Varun Beverages Limited (NSEI:VBL) agreed to acquire The Beverage Company for an enterprise value of ZAR 3 billion on December 19, 2023. The agreement comes with an option to accept minority coinvestment from large equity fund subject to regulatory and other approvals (if any) including but not limited to PepsiCo Inc. and Competition Commission South Africa. VBL anticipates finalizing the transaction, involving ?cash consideration,?

before July 31, 2024. For FY ended June 2023, BevCo had revenues of ZAR 3615 million.