Cheers to Growth: Varun Beverages Enters Alcohol Sector

Varun Beverages is making a bold entry into the alcoholic beverages sector through the proposed incorporation of a wholly owned subsidiary, KIVA Spirits and Company Limited. Focused on manufacturing and marketing ready-to-drink (RTD) alcoholic beverages and related products, the new venture will be backed by a proposed authorized share capital of Rs 10 crore and a paid-up equity capital of Rs 9 crore.

Capitalizing on India’s massive 1,100-million-case alcohol market—where beer and IMFL dominate with 400 million cases each—the company has appointed industry veteran Prathmesh Mishra (formerly of Diageo and Pernod Ricard) as CEO and Managing Director to spearhead growth. Additionally, Varun Beverages announced a strategic joint venture in Tunisia to expand its footprint in carbonated soft drinks, juices, water, and dairy products.

News by Rahul Yelligetti.