Varun Beverages has received approval from board of directors for Share Purchase agreement between Company and Tanzania Bottling Company SA, to acquire 100% Share Capital of SBC Tanzania (a company incorporated in Tanzania) at an Equity value of $154.50 million (Rs 1304.00 crore), subject to regulatory and other approvals (if any) including but not limited to PepsiCo Inc.

The company also received approval for Share Purchase agreement between Company and Ghana Bottling Company, to acquire 100% Share Capital of SBC Beverages Ghana (a company incorporated in Ghana) at an Equity value of $15.06 million (Rs 127.10 crore), subject to regulatory and other approvals (if any) including but not limited to PepsiCo Inc.

SBC Tanzania and SBC Beverages Ghana are engaged in the business of manufacturing and distribution of licensed (PepsiCo Inc.) / own-branded non-alcoholic beverages in Tanzania and Ghana respectively. The said acquisitions will enable the company to expand its geographical footprint in Africa.

Furthermore, the company has received approval for share purchase agreement between Company and sellers to acquire the balance 39.93% of the issued and paid-up Equity Share Capital of Lunarmech Technologies (a subsidiary of the Company) for Rs 200.00 crore. Post-acquisition, it will become wholly-owned subsidiary of the Company.

The Board of Directors of Varun Beverages at their meeting held on November 12, 2024 considered and approved the same. 

Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.