NCL Industries Limited (BSE:502168) entered into a definitive agreement to acquire Tern Distilleries Private Limited from United Spirits Limited (NSEI:MCDOWELL-N) for INR 3 million on January 23, 2021. Under the terms of consideration, NCL Industries Limited will acquire 102.7 million shares and upon completion, Tern Distilleries Private Limited will become wholly owned subsidiary of NCL Industries Limited.