Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Retail Ventures, is in advanced negotiations to acquire a majority stake in Shunya, the zero-sugar, herb-infused beverage brand owned by Baidyanath Group’s Naturedge Beverages, according to sources familiar with the deal.
If finalized, this would mark Reliance’s fourth acquisition in the beverage space after Campa, Sosyo, and RasKik, further expanding its presence in India’s fast-evolving functional and health drink segment. The acquisition would also open up a new portfolio of ayurvedic and zero-sugar drinks for the conglomerate.
Founded in 2018 by Siddhesh Sharma, a third-generation member of the Baidyanath Group, Shunya offers zero-calorie drinks made with herbs and natural ingredients, available in flavors such as Zesty Apple and Zesty Orange. The deal is seen as a strategic move to ride the rising wave of demand for no-sugar and wellness beverages, which have seen sales more than double in 2024, as per internal estimates and NielsenIQ data.
“Consumers are increasingly seeking healthier drink options, and functional beverages with zero sugar are becoming mainstream,” said an executive close to the matter. Shunya’s ayurvedic positioning and natural ingredients align well with Reliance’s broader plan to build a robust wellness-focused product portfolio.
Baidyanath Group, established in 1917, is well-known for its ayurvedic products, pharmaceuticals, and health-focused consumer goods. While the financial details of the stake sale are yet to be disclosed, industry insiders believe the acquisition will strengthen Reliance’s ability to compete against established beverage giants like Coca-Cola, PepsiCo, Dabur, and Tata Consumer, all of whom are aggressively investing in health drink categories.
RCPL has already committed to investing ₹8,000 crore in capacity expansion over the next 12–15 months and plans to launch multiple greenfield and co-packing plants nationwide. In addition to beverages, the company has been building its FMCG portfolio through strategic acquisitions, including Ravalgaon and Toffeeman (confectionery), Lotus (chocolates), and Sil Foods (jams and condiments).
Emails to both Reliance Consumer Products and Baidyanath Group seeking comments on the deal went unanswered.
As health and wellness continue to shape consumer choices, Reliance is positioning itself as a serious challenger in the better-for-you beverage space—backed by deep pockets, strong retail networks, and a growing roster of innovative brands.