Varun Beverages Limited Share Purchase Agreement to acquire SBC Ghana Limited from Ghana Bottling Company Limited in a transaction valued at approximately GHS 250 million.
Varun Beverages Limited (NSEI:VBL) Share Purchase Agreement to acquire SBC Ghana Limited from Ghana Bottling Company Limited in a transaction valued at approximately GHS 250 million on November 12, 2024. VBL intends to hold 100% of the Share Capital of SBCG. The transaction is subject to regulatory and other approvals including but not limited to PepsiCo Inc. along with prior approval from PepsiCo Inc. and Tax clearance from Ghana Revenue Authority. The Board of Directors of Varun Beverages Limited at their meeting held today inter-alia considered and approved the acquisition of SBC Ghana Limited. The transaction is expected to close on or before February 28, 2025. For the period ending March 31, 2024, SBC Ghana Limited reported total revenue of GHS 61.93 million.
On February 25, 2025, it was announced that consummation of the aforesaid transaction is extended up to March 31, 2025 instead of February 28, 2025.
Varun Beverages Limited is an India-based company, which is a franchisee of PepsiCo. It produces and distributes a range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo. PepsiCo CSD brands produced and sold by it include Pepsi, Pepsi Black, Mountain Dew, Sting, Seven-Up, Mirinda Orange, Seven-Up Nimbooz Masala Soda and Evervess. PepsiCo NCB brands produced and sold by it include Tropicana Slice, Tropicana Juices (100% and Delight), Seven-Up Nimbooz, Gatorade as well as packaged drinking water under the brand Aquafina. It has approximately 34 manufacturing plants in India and over six manufacturing plants in international geographies (two in Nepal and one each in Sri Lanka, Morocco, Zambia and Zimbabwe). Its subsidiaries include Varun Beverages (Nepal) Private Limited, Varun Beverages Lanka (Private) Limited, The Beverage Company Proprietary Limited, and others.
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Varun Beverages Limited Share Purchase Agreement to acquire SBC Ghana Limited from Ghana Bottling Company Limited in a transaction valued at approximately GHS 250 million.
