Varun Beverages Expands: Acquires 50% Stake in Everest Industrial Lanka

Varun Beverages Ltd announced its acquisition of a 50% stake in Everest Industrial Lanka for $3.75 million. The move aims to internally source visi-coolers within the group. The acquisition has already received approval from Sri Lanka’s Board of Investment and is expected to finalize by May 2025.

In a strategic business move, Varun Beverages Ltd, a key player in the bottling industry for PepsiCo, has announced the acquisition of a 50% stake in Sri Lanka-based Everest Industrial Lanka for $3.75 million. The acquisition enables the company to internally source its requirements for visi-coolers, vital in beverage storage and marketing.

The investment and borrowing committee of Varun Beverages' board of directors sanctioned the acquisition on Monday, as per the company's regulatory filing. This decision aligns with Varun Beverages' long-term strategy to streamline its supply chain within its corporate structure.

The deal, which has received the nod from Sri Lanka’s Board of Investment, is expected to be completed by May 30, 2025, ensuring compliance with local investment regulations and bolstering the company's manufacturing capabilities in the region.

(With inputs from agencies.)