GRM Overseas picks up 44% stake in Rage Coffee’s parent company
GRM Overseas Ltd on Wednesday said that it has acquired 44 per cent stake in Swmabhan Commerce Pvt Ltd, the parent company of the digital-first coffee brand, Rage Coffee.
It said this is being done through a combination of primary infusion and secondary buyouts, marking a major step forward in its expansion into the fast-growing Indian coffee market.
The company said this acquisition aligns with its broader strategy under its newly launched platform, 10X Ventures, which aims to invest ₹200 crore in digital-first, new-age D2C brands.
Rage Coffee is the first significant investment under this platform, signaling GRM’s intent to diversify and strengthen its portfolio in the FMCG space.
Rage Coffee, co-owned by Bharat Sethi, Sixth Sense Ventures, and investors including cricketer Virat Kohli and actor Rannvijay Singha. It offers a range of coffee products, including instant coffee in freeze-dried, spray-dried, and agglomerated forms, as well as whole beans, ground coffee, and ready-to-drink beverages.
Its 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, “Our success is built on the trust and loyalty of our consumers and the passion of our team. 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. Together with GRM, under the leadership of Mr. Atul Garg, we will achieve even greater heights and create lasting value for all our stakeholders.
Atul Garg, Managing Director of GRM Overseas Ltd said, “This strategic investment in Rage Coffee aligns perfectly with our vision to drive growth in digital-first, health-focused, and lifestyle brands. Bharat Sethi’s innovative approach has already made Rage Coffee a household name among consumers.”
“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 deep industry expertise and distribution capabilities with Rage Coffee’s dynamic offerings.
He said tht 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.
GRM Overseas strengthens its position in India’s packaged food market, catering to the evolving preferences of new-age consumers.
It reported ₹1,345 crore in revenue and ₹105 crore in profits in FY24 and aims to derive 20 per cent of its future revenue from new-age companies like Rage Coffee while maintaining its leadership in the rice, atta, and edible oil sectors.
Nikhil Vora, CEO & Founder of Sixth Sense Ventures, added: “We are delighted to welcome GRM Overseas as a strategic investor in Rage Coffee. Over the last three years, Rage has built a formidable digital-first brand among new-age consumers in the coffee segment. We believe GRM’s extensive sales and distribution network will unlock significant market opportunities for Rage to scale internationally.”