Varun Beverages Limited (NSEI:VBL) agreed to acquire 50% stake in Everest Industrial Lanka (Private) Limited for INR 320 million on May 19, 2025.
For the period ending December 31, 2024, Everest Industrial Lanka (Private) Limited reported total revenue of INR 148.9 million ($1.74 million).
The deal has been approved by the board of Varun Beverages Limited and has also received approval from Board of Investment, Sri Lanka. The transaction is expected to close on or before May 30, 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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