United Spirits (USL) has completed the sale and franchising of 32 popular brands to Singapore-based Inbrew Beverages. The company has also given franchise rights of another 11 popular brands to Inbrew Beverages for five years with an option to extend to perpetual rights to use, subject to certain conditions.
Earlier on May 27 this year, USL had announced the sale of the entire business undertaking associated with 32 brands, including iconic brands Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov for a total cash consideration of approximately Rs 820 crore. The deal was subject to approval from shareholders and some customary clearances.
United Spirits is the largest spirits company in India and a flagship entity of UB group. It manufactures wide range of whisky, vodka, rum and other spirits.
