GRM Overseas acquires 44% stake in Indian retail packaged coffee brand Rage Coffee

Rage Coffee is backed by Mumbai-based investment firm Sixth Sense Ventures | Photo credit: Rage Coffee/Facebook

One of India’s largest rice exporters and FMCG firms, Haryana-based GRM Overseas, has acquired a 44% equity stake in Indian instant and ready-to-drink (RTD) coffee retailer Rage Coffee for an undisclosed sum. 
 

Founded in 2018 and backed by Mumbai-based investment firm Sixth Sense Ventures, Rage Coffee manufactures, markets and distributes retail packaged coffee products via its website, online marketplaces and over 5,000 offline points of sale. 

The New Delhi-based CPG coffee business said the investment will enable it to scale its retail presence in India and internationally. The business currently distributes its products in the UK, UAE, Sri Lanka, Nepal and Bhutan via a mixture of online and offline retail partnerships. 

Sixth Sense Ventures CEO Nikhil Vora has previously said Rage Coffee will seek to launch in Saudi Arabia, Continental Europe and North America. 

“To unlock the next phase of growth, we believe GRM will be an excellent partner for Rage to leverage the sales and distribution network and open up significant market opportunities for the brand to scale internationally,” Vora said. 

GRM said the acquisition aligns with its vision to expand into digital-first, health-focused, and lifestyle brands. The business will seek to leverage its export expertise to launch Rage Coffee’s packaged coffee products in international markets. 

“We see enormous potential not only in expanding Rage Coffee’s presence in the domestic market but also in 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 deep industry expertise and distribution capabilities with Rage Coffee’s dynamic offerings. Together, we aim to elevate this brand to new heights both in India and globally,” added Atul Garg, Managing Director, GRM Overseas. 

Rage Coffee is the first significant investment made by GRM Overseas’ recently launched 10X Ventures platform, through which the FMCG firm plans to invest Rs 200 cr ($24m) in digital-first, new-age D2C brands.

GRM Overseas expects 20% of future revenue to come from start-up, digital-first FMCG brands, with the remaining 80% from the rice, wheat and edible oil sectors.