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United Spirits completes acquisition of Pioneer Distilleries

27 May 2011 Evaluate

United Spirits (USL) has acquired 73,22,280 equity shares from the promoters of Pioneer Distilleries (PDL) on May 24, 2011 and has completed the acquisition of PDL pursuant to the share purchase agreement. Consequent to the above, PDL has become a Subsidiary of USL.

Further, USL has also informed that it had earlier acquired 9,77,212 equity shares from the open market and 26,77,640 equity shares under the open offer and the company had made the necessary disclosures. With the help of the said acquisition, USL’s in-house capacity of primary spirit distillation will go up to 22.5% of its requirement and provide further supply side security.

Earlier, United Spirits, the largest spirits company in India and a flagship entity of $2 billion UB Group, had received its board approval to enter into share purchase pact with the existing promoters of Pioneer Distilleries (PDL) for acquisition of 73,22,280 equity shares in PDL, representing 54.69% stake at a price of Rs 101 per equity share. Further, the company has also stated that it will make an open offer for acquisition of additional 26,77,640 equity shares, representing 20% stake in PDL.

United Spirits (USL) is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits. PDL has 160 Kilo litres per day (KLPD) spirit facility situated on 188 acres of land, about 45 kms from Nanded in Maharashtra. This comprises an active 100 KLPD plant using Molasses as feedstock and a 60 KLPD plant under commissioning which uses Grain as input.

United Spirits Share Price

1267.50 17.35 (1.39%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
United Spirits 1267.50
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Radico Khaitan 2793.00
India Glycols 922.60
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