Varun Beverages gets CCI approval to acquire PepsiCo’s franchise rights

Reader's Pick

One of Pepsico‘s largest bottling partner in India, Varun Beverages Ltd (VBL) has received a nod from the Competition Commission of India for its proposal to acquire franchise rights of the foods and snacks major in southern and western India.

In a regulatory filing on Monday, VBL said that “It is meeting the Competition Commission of India has approved the proposal of acquisition.”

[embeddoc url=”https://www.nseindia.com/corporate/listcontract1_25032019110507_VARUN_051.pdf” download=”none”]

The company in its statement said that “The company’s board had approved entering into a binding agreement with the PepsiCo India Holdings to acquire franchise rights in the two regions for a national bottling, sales and distribution footprint in seven states and five Union territories (UTs).”

- Advertisement -

The statement added, “With the completion of the acquisition, VBL will be a franchise of PepsiCo beverages business in 27 states and seven Union Territories.”

Last month, Varun Beverages Limited announced that it is planning to acquire franchise rights of PepsiCo in southern and western regions.

Till to date, VBL already has the manufacturing, sales and distribution rights for Tropicana Slice and Tropicana Frutz in two regions.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

What is the Future of Newspapers in this Digital Age?

The advent of the Internet has revolutionized the way to consume information. This revolution...

The Trend to Watch: Alignment v/s Collision of Precision and Persuasion Marketing

The ultimate aim of marketing campaigns is to convince consumers to purchase the product....

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

Feeding India through Ads: A TechGraph Campaign to feed India

As the second wave of Coronavirus (COVID-19) has affected millions of families in India,...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...

The Increasing Importance Of Video Content On Social Media

For nearly a century, visual filmography has kept us occupied, engaged, and entertained for...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...

An interview with Sajeev Nair, Founder of Vieroots Wellness Solutions

Speaking to the TechGraph, Sajeev Nair, Founder & Chairman, Vieroots Wellness Solutions said, "As...