Acquisitions19 May 2025, 02:49 pm
Varun Beverages Ltd to Acquire 50% Stake in Everest Industrial Lanka for INR 320.88 Million
AI Summary
Varun Beverages Ltd (VBL) announced that its Investment and Borrowing Committee of the Board of Directors has approved the acquisition of a 50% stake in Everest Industrial Lanka (Private) Limited (EIL) for a consideration of USD 3.75 Million (INR 320.88 Million). EIL, a company in Sri Lanka, is engaged in the business of production, manufacturing, distribution and selling of commercial visi-coolers and related accessories. This acquisition will enable VBL to source its visi-coolers requirements internally within the group.
Key Highlights
- Varun Beverages Ltd to acquire 50% stake in Everest Industrial Lanka (Private) Limited
- Consideration for the acquisition is USD 3.75 Million (INR 320.88 Million)
- EIL is engaged in the business of production, manufacturing, distribution and selling of commercial visi-coolers and related accessories
- This acquisition will enable VBL to source its visi-coolers requirements internally within the group
- EIL's revenue from operations for the last 3 years is as follows: FY 2022 - USD 1.47 Million, FY 2023 - USD 1.86 Million, FY 2024 - USD 1.74 Million