In a strategic move that could reshape India’s functional beverage landscape, Reliance Consumer Products (RCPL) is reportedly in advanced talks to acquire a majority stake in Shunya, the zero-sugar, herb-infused drink brand owned by Baidyanath Group’s Naturedge Beverages. If finalized, this would mark Reliance’s fourth major beverage acquisition, signaling its aggressive push into the health-conscious drinks segment.
The Deal in Motion
- RCPL is negotiating to acquire a controlling interest in Naturedge Beverages, founded in 2018 by Siddhesh Sharma, heir to the Baidyanath legacy
- Shunya offers zero-sugar, herb-based functional drinks in flavors like zesty apple and zesty orange
- Financial specifics of the deal, including valuation and stake size, remain undisclosed
- The acquisition would expand Reliance’s beverage portfolio, which already includes Campa, Sosyo, RasKik, and Spinner
Key highlight: This move positions Reliance to tap into the surging demand for wellness-oriented beverages, especially among urban consumers.
Why Shunya? Why Now?
- Shunya’s unique blend of Ayurveda and modern nutrition aligns with India’s growing health and wellness trend
- The brand has gained traction in metro cities and is available across 15,000+ retail outlets and online platforms
- Sales of no-sugar and low-sugar drinks doubled in 2024, driven by rising health awareness and lifestyle shifts
- Reliance aims to leverage Shunya’s positioning to compete with global giants like Coca-Cola and PepsiCo, who are also expanding their zero-sugar portfolios
Notable insight: Shunya’s appeal lies in its clean-label promise—zero calories, zero sugar, and zero artificial sweeteners—making it a standout in a crowded market.
Reliance’s FMCG Playbook
- RCPL, the FMCG arm of Reliance Retail Ventures, began operations in 2022
- The company has been acquiring mid-sized brands across categories including beverages, confectionery, condiments, and personal care
- Recent acquisitions include Ravalgaon, Toffeeman, Lotus Chocolates, and Sil Foods
- Reliance plans to invest nearly Rs 8,000 crore over the next 12–15 months to expand beverage production capacity
Key takeaway: The Shunya deal fits into Reliance’s broader strategy of building a national FMCG footprint through targeted acquisitions and aggressive scaling.
Market Dynamics and Competitive Landscape
- The zero-sugar beverage segment is heating up, with Dabur, Tata Consumer, Coca-Cola, and PepsiCo all vying for market share
- Functional drinks—those offering added health benefits—are gaining popularity among millennials and Gen Z
- Reliance’s entry into this space with Shunya could trigger a wave of innovation and pricing competition
- Analysts expect Reliance to use its distribution muscle to take Shunya national and possibly global
Highlight: The acquisition could redefine how Indian consumers perceive health drinks, blending tradition with modern science.
Conclusion
Reliance’s potential acquisition of Shunya is more than a business transaction—it’s a signal of where India’s beverage market is headed. With health, wellness, and functionality becoming central to consumer choices, Shunya’s herb-infused, zero-sugar promise is perfectly timed. If the deal goes through, Reliance won’t just be buying a brand—it’ll be buying into a movement.
Sources: Economic Times, ETRetail, Indian Retailer
