Investment2 Jan 2025, 10:05 pm
Varun Beverages Invests INR 4,128.04 Million in South African Subsidiary Bevco
AI Summary
Varun Beverages Limited (Varun Beverages) has invested INR 4,128.04 Million by subscribing Ordinary Shares of its subsidiary company, The Beverage Company Proprietary Limited (Bevco) in South Africa. Bevco is engaged in the manufacturing and distribution of licensed (PepsiCo Inc.) / own-branded non-alcoholic beverages in South Africa and has franchise rights from PepsiCo Inc. in South Africa, Lesotho and Eswatini. The investment will help Bevco to repay its existing debt and strengthen its balance sheet for business growth.
Key Highlights
- Varun Beverages invested INR 4,128.04 Million in its subsidiary Bevco in South Africa.
- Bevco is engaged in the 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.
- The investment will help Bevco to repay its existing debt and strengthen its balance sheet for business growth.
- Bevco's consolidated turnover for the financial year ended June 30, 2024 is ZAR 4,090 Million.