Energy Beverages Pvt Ltd, which owns the mineral water brand Clear Premium Water, said Wednesday it has acquired a majority stake in Kelzai Volcanic Water.
The company did not disclose the financial terms of the transaction.
Energy Beverages will now distribute and market Kelzai Volcanic Water, the company said in a statement.
This acquisition is aimed at helping Clear Premium expand its product portfolio and will help Kelzai expand its presence by using Clear Premium's pan-India presence.
“With the strategic plant location, we aim to reach a broader audience, using Clear's network, and Kelzai’s established brand identity. This partnership improves our natural mineral water offerings as well,” said Nayan Shah, founder and chief executive officer of Clear Premium Water.
Kelzai Secrets Pvt. Ltd, which owns the Kelzai Volcanic Water brand, says it supplies water sourced from volcanic springs. The company was founded in 2007 and is based in Pune, Maharashtra. Energy Beverages was established in 2005 and is based out of Gujarat.
According to VCCEdge, the data research platform of VCCircle, Clear Premium Water clocked Rs 41 crore in net sales in FY21, while managing to stay profitable. Kelzai managed to post Rs 3 crore in net sales but recorded a loss.
