Rasna acquires Jumpin from Hershey's to expand into ready-to-drink category
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Instant beverage maker Rasna on Monday announced that it has acquired the brand Jumpin from Hershey 's India for expanding into the ready-to-drink category. Rasna did not disclose the amount it has paid for the 100 per cent acquisition of the brand. However, it indicated that independent agencies have valued the brand at Rs 350 crore. Piruz Khambatta , Rasna's chairman, said the company has acquired only the brand from Hershey's and not the manufacturing asset. It will be using the same manufacturing facility going ahead.Jumpin was originally launched by the Godrej Group and was subsequently managed by Hershey's India, as per an official statement.Khambatta said Jumpin has advantages like its heritage, perception as a family brand which is not in the energy drink category and a pioneering one as well having used a tetra pack for the first time in India.The chairman said brands stagnate like a heritage building, and need to be redone to make them contemporary, and added that Jumpin will be relaunched by Rasna with the same brand name.Under its new owners, Jumpin will be launched in PET bottles and tetrapacks with size starting from 125 ml and the price band from Rs 10 onwards, he said, adding that it will come in lemon, litchi, guava and mango flavours.Rasna is targeting to have a revenue of Rs 1,000 crore in over two years, he said, adding that the overall market size is Rs 1 lakh crore and the company is conservative in its expectations.Before shutting during Covid time, Jumpin was doing about Rs 150 crore of revenues per year through limited geography sales, he said.Rasna has its own distribution network and also strengthen the same, he said, adding that distribution will start from next month onwards.Asked about reports of slowdown in consumption growth, Khambatta said the mass offerings of the kind done by Rasna are not facing any troubles, but it is the premium category which is witnessing stress.In the future, Rasna may contemplate to enter the milk-based beverages segment, he said, clarifying that this will not be a milk shake, but a drink having some component of milk.He said the company is in talks to acquire a health company as well, whose offerings also include snacks.Khambatta also welcomed the moves to restrict sugar consumption like the one at schools level.He said distribution chains in the northern region, which were impacted due to the conflict between India and Pakistan, have come back to normal now as life is getting back to normal.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Cotton prices fall after India lifts import duty
1 2 Nagpur: Rates of ginned cotton fell by Rs1,100 in two days after India lifted duty on imports until Sept 30. The Cotton Corporation of India (CCI), which is offloading the processed cotton, cut prices by Rs 600 a candy (per 356kg) on Tuesday, followed by another Rs 500 cut on Wednesday. After two consecutive cuts, the rates have come down to the range of Rs55,200 to Rs56,900 a candy. CCI, which purchases cotton at the minimum support price (MSP) as part of market intervention measures when the rates are low, later sells processed candies in the open market. As the move comes amid the ongoing US tariff war, falling cotton price has left farmers worried. If the rates of processed cotton fall, farmers may fetch lower prices for raw cotton during the harvest time in October. Even a temporary dismantling of duty may impact cotton prices, admit traders. The US is sitting on a stock of 2.87million tonne and of which it plans to export nearly 2.72million tonne. Exports have just begun with 40,000 tonne cotton shipped till last week, said a source. Till August first week it has exported to Vietnam, Bangladesh, Turkey, Pakistan and Mexico. The highest exports have been to Vietnam at 25 lakh tonne. Roshan Kothari, a member of an Agriculture Produce Marketing Committee (APMC) at Wani tehsil of cotton growing Yavatmal district, said if the rates fall private ginners will have to further lower raw cotton rates. "In case the govt extends import duty benefit to consignments booked or loaded in vessels before Sept 30, a major jump in imports can be expected. This would lower the local prices during harvest time in October," he said. As the rates fall, private ginners may not be able to buy raw cotton at MSP, which is fixed at Rs8,110 a quintal. Even for CCI to profit after purchasing at MSP, the rates per candy of processed cotton must be at Rs65,000, said Kothari. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
26 minutes ago
- Time of India
Newly added to VMC, Ramnagar, Sujabad to get sewage, water supply
Varanasi: Sewage and water supply lines will soon be laid in trans-Ganga towns of Ramnagar and Sujabad, which were recently included in Varanasi Municipal Corporation limits. Detailed project reports of Rs 277 crore for Ramnagar and Rs 36.45 crore for Sujabad submitted to state govt by UP jal nigam have been approved and budget has been allocated. Following merger of Ramnagar Palika Parishad and Sujabad Nagar Panchayat into VMC in 2022-23 and expansion of limits by including areas of Rohania, number of total wards increased from 90 to 100. Following local bodies election for VMC in May 2023, process to improve basic infrastructure by introducing sewage, drainage and water supply lines started. To review progress, mayor Ashok Tiwari held a meeting with jal nigam engineers on Tuesday evening and prioritised accessible drinking water and sewage systems for residents in the newly expanded areas. UPJN engineers tabled the detailed project report approved by state govt after allocation of budget. Tiwari sought further action plan for execution of the project. UPJN engineer informed the mayor that in Ramnagar area, a 93 km water supply line would be laid at a cost of Rs 94.44 crore, while 80 km sewer line will be installed at a cost of Rs 182 crore. In Sujabad Domari area, 63 km water supply line will be laid at a cost of Rs 36.45 lakh. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The mayor instructed UPJN to expedite process of finalising DPR for sewage to be laid in wards falling in the Rohania assembly segment and submit it to govt by Sep 15. The UPJN was also asked to send the DPR for laying water pipelines in 18 wards to the govt. The mayor instructed Jal Nigam officials to operate the sewage pumping stations at Manikarnika Ghat and Namo Ghat at full capacity to prevent sewer overflow in the ghat area. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
41 minutes ago
- Time of India
Existence of GJUST in danger, says ex-finance min of Hry
1 2 Hisar: Former finance minister of Haryana and Congress leader, Prof Sampat Singh, on Wednesday raised serious concerns over the financial health of Guru Jambheshwar University of Science and Technology (GJUST), Hisar, warning that the institution's very existence is at risk due to a mounting budget crisis. Prof Singh revealed that the university is grappling with a staggering budget deficit of Rs 294.92 crore, which includes a revised shortfall of Rs 71.21 crore for the 2024–25 financial year. He pointed out that while the state govt provided a grant of Rs 140 crore in 2023–24, the allocation for the current year has been reduced to just Rs 95 crore. The total revenue estimated for 2025–26 is Rs 194.11 crore, comprising internal receipts, income from distance education and self-financing programmes, and govt grants. However, Prof Singh noted that these revenue streams are steadily declining. The self-financing schemes, initially intended to boost income, are projected to generate only Rs 21.11 crore this year against an expenditure of Rs 41.45 crore. Meanwhile, the university's total estimated expenditure for the year stands at Rs 415 crore. Even the annual salary bill of teaching and non-teaching staff — Rs 205.72 crore — exceeds the projected revenue. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Prof Singh alleged that 750 unskilled employees were recruited in the last five years through an outsourcing agency in a non-transparent manner, despite 209 sanctioned non-teaching vacancies. Now absorbed under the Haryana Skill Employment Corporation, these employees will cost the university an additional Rs 30.10 crore this year. He claimed that 71 individuals have been appointed under various designations — such as honorary professors, adjunct faculty, emeritus professors, consultants, advisors, and visiting professors — without actual requirement, further straining the university's finances. Highlighting an acute shortage of teaching staff, Prof Singh said that only 189 of the sanctioned 366 faculty posts are currently filled, severely impacting both teaching and research. He also criticised the introduction of several new postgraduate programmes without assessing financial viability, noting that 80–90 per cent of seats in many of these courses remain vacant even as regular teachers are being recruited. Prof. Singh warned that construction projects worth Rs 80 crore are at risk of stalling due to lack of funds. He urged the Haryana govt to release a special financial grant to rescue the institution and demanded a probe into the financial and administrative affairs of the university by the Assembly Committee on Education, with assistance from a senior officer of the Accountant General (Audit), Haryana. BOX: VC contradicts claims Vice-chancellor Prof Narsiram Bishnoi asserted that the university's financial condition is strong and that it continues to receive adequate grants from the govt. Prof Bishnoi said the university received a grant of Rs 95 crore from the state govt in 2023–24, in addition to earning over Rs 99 crore from internal resources. He added that the university currently runs 89 regular programmes, 25 distance and open learning programmes, and 43 online programmes. Highlighting growth in enrolments, the VC said the number of regular students rose from 6,000 to nearly 11,000 in the past two years, while more than 860 research scholars are pursuing studies on campus. Another 6,700 students are enrolled in distance and online courses, with admissions still under way. On the issue of staffing, Prof Bishnoi clarified that recruitments of teachers, non-teaching staff, and other personnel are being carried out with govt approval and in accordance with rules. These appointments, he said, are not a financial burden but are essential for meeting the university's needs and enhancing its efficiency. He added that the university's income is steadily increasing, supported by the launch of new academic programmes. MSID:: 123411763 413 | Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
