Varun Beverages on Monday introduced the acquisition of a 50% stake in Everest Industrial Lanka (Personal) Restricted (EIL) for a consideration of USD 3.75 million (roughly INR 320.88 million) following the approval of board of administrators.
In an alternate submitting, the corporate said, “EIL, an organization in Sri Lanka, is engaged within the enterprise of manufacturing, manufacturing, distribution, and promoting of economic visi-coolers and associated equipment.”
This strategic transfer is anticipated to boost Varun Drinks’ provide chain capabilities and develop its footprint within the South Asian market.
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