Sequoia-backed D2C beverages brand Raw Pressery is reportedly being acquired by ready-to-eat food brand Wingreens Farms in a distress sale that sees the former being valued at INR 100 Cr – INR 110 Cr.
Sources told the publication that Wingreens would be looking at turning around Raw Pressery’s business which has been struggling to pick up pace. “The business could not scale up and the company was consistently making losses,” one source was quoted as saying.
In August 2019, Raw Pressery entered the dairy beverages category with a focus on alternative products in the segment, looking to boost its sales. It also had plans to expand to international markets such as UAE, Qatar and Kuwait, which were believed to be attractive from a marketing point of view as well as spending capacity of those consumers. It also had plans to expand to Southeast Asia.