Varun Beverages has received approval to acquire 20% of the issued and paid-up equity share capital of Lunarmech Technologies. Post-acquisition, the Company will hold 55% of the effective equity share capital of Lunarmech.
The indicative time period for completion of the acquisition is within 7 days from the date of execution of Share Purchase Agreement i.e. by September 15, 2019. The cost of acquisition will be Rs 15 crore. Lunarmech is carrying on the business of manufacturers, processors, buyers, sellers, importers, exporters or otherwise deal in all kinds of pet bottle caps and crown caps.
Varun Beverages is a key player in beverage industry and one of the largest franchisee of PepsiCo in the world (outside USA).
