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).”
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.
