Rakyan Beverages Private Limited (Raw Pressery) is in talks with multiple packaged consumer goods firms, including ITC Limited (NSEI:ITC) and the Paperboat brand, for either divesting stake or getting on board a strategic investor for the juices division, three officials aware of the development said. Raw Pressery had raised over INR 2,000 million in equity and debt from a clutch of funds including Alteria Capital, Sequoia Capital, Saama Capital and DSG Consumer Partners two years ago. But it is now facing headwinds as consumers in key urban markets downgrade and opt for cheaper juices, said one of the officials cited above. The sale is being valued anywhere between INR 1,500 and INR 2,000 million, the officials said. A mailed query to Anuj Rakyan, Founder and Managing Director, Raw Pressery, remained unanswered. ITC did not respond to ET's query. “A potential buyout will give ITC a footprint in the premium, healthy juices space, which it can leverage through its hotels business,” one of the officials mentioned above said. Hector Beverages Private Limited is another contender for the business, executives said. Hector Beverages Co-Founder Neeraj Kakkar declined comment.