FMCG firm GRM Overseas announced on Wednesday the acquisition of a 44 per cent stake in Rage Coffee. This significant strategic investment will be in Swmabhan Commerce Pvt Ltd, the parent company of the digital-first coffee brand, Rage Coffee. GRM Overseas has acquired the stake through a combination of primary infusion and secondary buyouts, marking a major step forward in its expansion into the fast-growing Indian coffee market.
Rage Coffee, co-owned by Bharat Sethi, Sixth Sense Ventures, cricketer Virat Kohli and actor Rannvijay Singha, has rapidly become a favourite among new-age consumers. Rage Coffee offers a wide range of coffee products, including instant coffee in freeze-dried, spray-dried, and agglomerated forms, whole beans, ground coffee, and ready-to-drink beverages.
Rage Coffee’s omnichannel distribution network spans D2C platforms, leading e-commerce and quick commerce marketplaces, over 1,000 HoReCa outlets, and more than 5,000 general trade and modern retail touchpoints across India.
Bharat Sethi, Founder & CEO of Rage Coffee said “With GRM, we have found a partner that not only understands our mission but also complements our strengths with their extensive distribution network, corporate capabilities, and deep industry expertise.”
Atul Garg, Managing Director of GRM Overseas Limited said “This strategic investment in Rage Coffee aligns perfectly with our vision to drive growth in digital-first, health-focused, and lifestyle brands. We see enormous potential in expanding Rage Coffee’s presence in the domestic market and leveraging synergies with our established export markets. Coffee, as a product category, aligns well with our international growth strategy, and we are excited to combine our industry expertise and distribution capabilities with Rage Coffee’s offerings.
The acquisition aligns with GRM Overseas’ broader strategy under its newly launched platform, 10X Ventures, which aims to invest Rs 200 crore in digital-first, new-age D2C brands. Rage Coffee is the first significant investment under this platform, signalling GRM’s intent to diversify and strengthen its portfolio in the FMCG space.
The company plans to capitalize on its vast distribution network to expand Rage Coffee’s presence both domestically and internationally, potentially supplying coffee beans and soluble powder to existing clients in international markets and opening coffee shops under the Rage Coffee brand.
With this acquisition, GRM Overseas strengthens its position in India’s packaged food market, catering to the evolving preferences of new-age consumers. The company, which reported Rs 1,345 crore in revenue and Rs 105 crore in profits for FY24, aims to derive 20% of its future revenue from new-age companies like Rage Coffee while maintaining its leadership in the rice, atta, and edible oil sectors.
