Reliance Consumer in talks to acquire majority stake in Baidyanath’s Shunya drinks brand

Reliance Consumer Products (RCPL) is in advanced talks to buy a majority stake in Baidyanath Group-owned Naturedge Beverages' premium fruit drink brand Shunya, said executives aware of the development. Shunya offers a range of zero-sugar, herb-based functional packaged drinks in flavours such as 'zesty apple' and 'zesty orange'.

Financial details including the stake size and valuation could not be ascertained.

Naturedge Beverages was started in 2018 by Siddhesh Sharma, a third-generation heir of the Baidyanath Group.


Privately-held Baidyanath Group, which started operations in 1917, has interests in ayurvedic products, pharmaceuticals, personal products, and food and beverages.

Through the deal, the Mukesh Ambani-owned company would seek to capitalise on surging demand for zero-sugar drinks globally, even outpacing those containing sugar, though on a smaller base. The accelerated market expansion is sparking rising competition with Coca-Cola, PepsiCo, Dabur, and Tata Consumer intensifying efforts to get a bigger footprint in the zero-sugar space with functional drinks.

If successful, it would mark Reliance's fourth acquisition in the beverage industry, after carbonated drink brand Campa, Sosyo soft drinks, and fruit-based hydration drink RasKik. It also sells sports drink brand Spinner.

"The move will open a new category of healthy functional, ayurvedic-based drinks for Reliance," one of the executives said.

Emails sent to spokespersons of Reliance Consumer and Baidyanath Group remained unanswered.

Reliance has been deploying the strategy of acquiring stakes in mid-sized brands across consumer product categories, including beverages, condiments, confectionery and chocolates. Its acquisitions other than beverages include Ravalgaon and Toffeeman confectionery, Lotus chocolates, and jams and mayonnaise maker Sil Foods.

The latest moves also align with Reliance Consumer Products' plan to invest nearly '8,000 crore to expand capacity for beverages over the next 12-15 months and take its brands national.

The FMCG arm of Reliance Retail Ventures, which started operations in 2022, is looking to add nearly a dozen new greenfield and co-packing plants to compete with rivals such as Coca-Cola, PepsiCo, Dabur and Tata Consumer, and dozens of smaller regional brands.

Sales of no-sugar and low-sugar drinks and juices had doubled in 2024, the highest increase in a year though on a low base, executives said, citing data from internal estimates and NielsenIQ. The growth has been driven primarily by urban Indians opting for a wider variety of drinks, with a higher spotlight on health and wellness.