MyGreens buys JusDivine for Mumbai show
MUMBAI: Delhi-based cold pressed juice maker MyGreens has acquired JusDivine for an undisclosed amount in an all equity deal to gain entry into the Mumbai market.
The merged entity will operate under the MyGreens brand and look to launch operations in Mumbai this month.
"We get the manufacturing facility and a running plant with all the manpower and logistics networks built in. We are also on-boarding 30-40 partnerships in premium retail and F&B (food and beverages) outlets from JusDivine," MyGreens founder Anurag Mishra told ET. It is targeting an increase in sales volume to 5,000 bottles a day, from the current 500-1,000 a day, in the next 12 months.
The one-year-old firm, which claims an annual revenue of Rs 1-2 crore in its Delhi market, is targeting a revenue of Rs 1 crore a month in Mumbai in the next 12 months. "That is because there is a big difference in the lifestyle in Mumbai and, therefore, demand," Mishra said.
The merged entity will operate under the MyGreens brand and look to launch operations in Mumbai this month.
"We get the manufacturing facility and a running plant with all the manpower and logistics networks built in. We are also on-boarding 30-40 partnerships in premium retail and F&B (food and beverages) outlets from JusDivine," MyGreens founder Anurag Mishra told ET. It is targeting an increase in sales volume to 5,000 bottles a day, from the current 500-1,000 a day, in the next 12 months.
The one-year-old firm, which claims an annual revenue of Rs 1-2 crore in its Delhi market, is targeting a revenue of Rs 1 crore a month in Mumbai in the next 12 months. "That is because there is a big difference in the lifestyle in Mumbai and, therefore, demand," Mishra said.
