Varun Beverages has received approval from board of directors to acquire 100% stake in the business conducted by The Beverage Company (Proprietary), South Africa along-with its wholly-owned subsidiaries (hereinafter referred as ‘Bevco’) with an option to accept minority co-investment from large equity fund subject to regulatory and other approvals (if any) including but not limited to PepsiCo Inc. and Competition Commission South Africa.
Bevco is engaged in the business of manufacturing and distribution of licensed (PepsiCo Inc.) / own-branded non-alcoholic beverages in South Africa. Bevco has franchise rights from PepsiCo Inc. in South Africa, Lesotho and Eswatini. Further, it also has distribution rights for Namibia and Botswana. The acquisition will enable the company to expand its geographical footprint in Africa. The Board of Directors of the Company at their meeting held on December 19, 2023 has inter-alia considered and approved the same.
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
