Varun Beverages Limited completed acquisition of three manufacturing units at Cuttack, Bargarh and Bhopal from PepsiCo India Holdings Private Limited for approximately INR 1.7 billion.
January 18, 2018
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Varun Beverages Limited (BSE:540180) approved its intent to enter into a binding agreement to acquire three manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep) from PepsiCo India Holdings Private Limited on August 9, 2017. Varun Beverages Limited will also acquire Pepsico India's previously franchised territories of the State of Odisha and parts of Madhya Pradesh. The deal is subject to satisfactory completion of due diligence and final approval of PepsiCo. The intent to enter into a binding agreement was approved by the Board of Directors of Varun Beverages Limited on August 9, 2017. Anoop Poojari and Varun Divadkar of CDR India was part of the deal. As of September 28, 2017, Varun Beverages Limited has completed the acquisition of Pepsico India two manufacturing units at Bargarh and Bhopal (Mandideep). As of December 20, 2017, Varun Beverages Limited's Board approved the transaction. Upendra Nath Sharma, Nitesh Bhasin and Kartik Jain of J. Sagar Associates acted as legal advisors for PepsiCo India Holdings Private Limited.
Varun Beverages Limited (BSE:540180) completed acquisition of three manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep) from PepsiCo India Holdings Private Limited for approximately INR 1.7 billion on January 19, 2018. Under the terms, the manufacturing units at Bargarh and Bhopal (Mandideep) along with Pepsico India's previously franchised territories of the State of Odisha and parts of Madhya Pradesh was acquired for INR 1.3 billion. The manufacturing unit at Cuttack was acquired for INR 437 million.
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.
Varun Beverages Limited completed acquisition of three manufacturing units at Cuttack, Bargarh and Bhopal from PepsiCo India Holdings Private Limited for approximately INR 1.7 billion.
VARUN BEVERAGES LIMITED 
