JusDivine, the second largest player in Mumbai’s hyperactive cold-pressed juice industry has been acquired by Delhi based startup, MyGreens. Through this “ﬁrst in the Industry” move, MyGreens hopes to penetrate the Mumbai market rapidly. This is an all equity deal where MyGreens will buy JusDivine’s running business including a world-class manufacturing unit, man-power and access to current relations. This move exhibits how Indian entrepreneurs are thinking of out-of-the-box moves to ensure high return to investors and keeping a close eye on not only the top-line but also the bottom-line. The valuation of the merged entity is estimated at about Rs 20 Cr.
Launched 1.5 years back, MyGreens is cold-pressed juice brand in Delhi/NCR. It offers about 20 variants of cold- pressed juices and smoothies through its online channel and an extensive network of F&B and retail partners. MyGreens currently sells about 500-1000 bottles a day. This number will go up to about 5000 bottles a day in 12 months.
Anurag Mishra, co-founder and Director, MyGreens, said, “The genesis of MyGreens is based on a latent demand of Indian consumers for adding healthy alternatives to their daily consumption basket. While we have started with cold-pressed juices, we want to spearhead the “Clean-Label” movement in India – a movement that is gaining pace globally. JusDivine helps us in this endeavour by helping us enter the biggest cold-pressed juice market in the country. We will not rest here – we plan to launch multiple clean label products for the Indian audience later in the year.”
Rohan Gupta, co-founder and Director, MyGreens said, “We are very excited about this acquisition as the synergies we share with JusDivine will allow us to add to our bottom line and catapult our top line, ensuring very high return for our investors. Aim is to make MyGreens the biggest clean label brand in the country and subsequently, globally.”