Varun Beverages Ltd to Acquire Stakes in SBC Tanzania Limited, SBC Beverages Ghana Limited, and Lunarmech Technologies Private Limited

Varun Beverages Ltd announced that its Board of Directors approved the acquisition of 100% share capital of SBC Tanzania Limited and SBC Beverages Ghana Limited, and the balance 39.93% of the issued and paid-up Equity Share Capital of Lunarmech Technologies Private Limited. The total equity value of the acquisitions is US$169.56 million (INR 14,311 million). The acquisitions are subject to regulatory and other approvals, including PepsiCo Inc., Fair Competition Commission, Tax clearance from Tanzania Revenue Authority, and Ghana Revenue Authority. The acquisitions will enable VBL to expand its geographical footprint in Africa and consolidate its operations in the manufacturing and distribution of non-alcoholic beverages.