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Reliance Industries buys majority of Australia’s Goodness Group Global
Yahoo Finance· 2026-02-09 10:53
Core Viewpoint - Reliance Industries has acquired a majority stake in Australian beverage maker Goodness Group Global, marking its entry into the Australian consumer goods market [1] Group 1: Acquisition Details - The specific size of the stake acquired and other financial terms were not disclosed [1] - The acquisition will allow Reliance Consumer Products to promote Goodness Group's brands, including Nexba and Pace, in new markets such as India [1] Group 2: Brand and Product Information - Goodness Group's brands include health-focused products like Nexba, which uses a plant-based, zero-calorie sweetener called Goodsweet, and Pace, co-created with Australian cricket captain Pat Cummins [2] - The portfolio also features protein beverage Bison and breakfast drink Good Brekkie [3] - Reliance Consumer Products' existing drinks range includes RasKik and Sun Crush juices, as well as the herbal drink Shunya, part of a joint venture with Naturedge Beverages [3] Group 3: Strategic Goals - Troy Douglas, founder of Goodness Group, expressed that the partnership with Reliance will help the company evolve into a global player in up to 50 western markets over the next five years [3] - The collaboration aims to position the business as a global leader in the better-for-you beverage category [3] Group 4: Previous Ventures - In February of the previous year, Reliance Industries launched a sports hydration drink called Spinner, co-created with former Sri Lankan cricketer Muttiah Muralitharan [4]