ITC, Paper Boat Mull Buyout Of Juice Brand Raw Pressery: Report

Premium cold-pressed juice maker Raw Pressery is in talks with multiple packaged consumer goods firms, including ITC and the Paper Boat brand, to divest stake or get on board a strategic investor for the juices division, officials said.
Moneycontrol could not independently verify the report. Having raised over Rs 200 crore in equity and debt from the likes of investors like Alteria Capital, Sequoia Capital, Saama Capital, and DSG Consumer Partners, the juice maker is now facing headwinds as consumers in key urban markets downtrade and opt for cheaper juices, according to an official cited in the report. Raw Pressery had planned to diversify its range of offerings which also includes fresh foods, but has been unable to achieve the scale in the newer businesses, the report said. For a firm like ITC, a premium juices brand matches its stated objective to build a diversified FMCG portfolio and reducing its dependence on the cigarette business. B Natural, one of its juice brands operates in the mass-premium segment. Another competitor for the buyout could be Hector Beverages, according to the officials, which produces Paper Boat, a range of ethnic fruit-based drinks.