Fast-moving consumer goods company Emam has acquired a 73% stake in flavored drink Alofrut’s parent company Axiom Ayurveda, taking its total ownership to 100%. The company already had a 27 percent stake in Axiom Ayurveda.
In an exchange filing, Emami said that it has acquired the remaining 73 percent stake for an amount not exceeding Rs 200 crores. The FMCG major stated that the acquisition is expected to be completed in a phased manner over the next three months.
Emami eyes acquisitions
Like all the major FMCG players in India, Emami is also chasing startups that have made a name for themselves through unorthodox strategies and products. Emami acquired men’s grooming startup The Man Company and part stakes in pet care brand Fur Ball Story and nutrition company Tru Native.
Harsha Vardhan Agarwal, Vice Chairman & MD, Emami, said that their growth strategy is centered on building presence in emerging, high-opportunity categories that align with evolving consumer preferences, particularly in the health and wellness space.
“Our partnership with Axiom over the past two and a half years has provided us with valuable insights and strengthened our conviction in this segment”, Vardhan said.
| Financial Year | Revenue |
|---|---|
| FY23 | ₹129 crore |
| FY24 | ₹107 crore |
| FY25 | ₹110 crore |
| FY26 (Projected) | ₹180 crore |
- The Man Company (Men’s Grooming)
- Fur Ball Story (Pet Care – Part Stake)
- Tru Native (Nutrition – Part Stake)
Emami, which primarily operates in the beauty and personal care segment, is making its foray into the food and beverage industry through this acquisition. “With the completion of the acquisition, we bring Axiom fully into the Emami fold, marking our formal entry into the fast-growing & huge beverage segment”, Vardhan said.
Axiom Ayurveda revenue and business
Founded in 2019, Axiom Ayurveda was founded by Rishabh Gupta and Alisthe ha Gupta. As per the exchange filing, Axiom Ayurveda reported a consolidated turnover of Rs 110 crore in FY25, Rs 107 crore in FY24, and Rs 129 crore in FY23.
Alofrut is the flagship brand of the company, contributing about 80 percent of its total revenue. It has other products in the portfolios in the beverage segment & personal care, which contribute ~15-20% of its own branded business.
Vardhan said that Axiom is a profitable and growing company, expected to achieve a topline of around Rs 180 crore in FY26.
Bringing the CEO to manage brand
To manage the newly acquired brand Emami, has onboarded Harkirat Bedi, formerly Vice President & Business Head at Dabur Nepal, as the Chief Executive Officer of Axiom Ayurveda.