Cupid Breweries to Acquire Rinpoche Spirits and Crochet Industries for Rs. 348.38 Crores and Rs. 5.86 Crores Respectively

Cupid Breweries and Distilleries Ltd has approved the acquisition of 100% share capital of Rinpoche Spirits Private Limited (RSPL) and up to 8,75,000 equity shares of Crochet Industries Private Limited (CIPL) through preferential issue of equity shares. The total consideration for RSPL is Rs. 348.38 Crores and for CIPL is Rs. 5.86 Crores. The acquisition will enhance Cupid Breweries' national footprint, capacity, and revenue visibility with EBITDA scalability. The Board has also approved the execution of a Share Purchase Agreement (SPA) for the proposed transaction.