Archive · 20 May 2025
Varun Beverages to Acquire Stake in Sri Lanka Visi-Cooler Maker
Varun Beverages, a major PepsiCo bottler, is buying half of a Sri Lankan company that makes visi-coolers, which are like mini-fridges for drinks.
They're spending $3.75 million to do this.
The goal is to make their supply chain run more smoothly and potentially save money.
They already got the okay from the Sri Lankan government.
The deal should be done by May 30, 2025.
This helps Varun Beverages control more of their business, from making drinks to keeping them cold.
Varun Beverages Ltd (VBL) plans to acquire a 50% stake in Everest Industrial Lanka (Pvt) Ltd.
The acquisition is for USD 3.75 million, approximately Rs 32 crore.
Everest Industrial Lanka (EIL) manufactures commercial visi-coolers.
The investment aims to streamline VBL's supply chain and reduce costs.
The transaction has been approved and is expected to finalize by May 30, 2025.
- Who
- Varun Beverages Ltd (VBL) and Everest Industrial Lanka (EIL).
- What
- VBL is acquiring a 50% stake in Everest Industrial Lanka.
- When
- The acquisition is expected to be finalized by May 30, 2025.
- Where
- Sri Lanka.
- Why
- To enhance supply chain efficiency and potentially save costs.
- Acquisition Target
- Everest Industrial Lanka (Pvt) Ltd
- Acquirer
- Varun Beverages Ltd (VBL)
- Stake Acquired
- 50%
- Acquisition Amount
- USD 3.75 million
- Business of Target
- Production of visi-coolers and accessories
- Purpose of Acquisition
- Enhance supply chain efficiency
- Expected Completion
- May 30, 2025