Asahi Group Partners with Varun Beverages Limited to Introduce Iconic CALPIS Brand in India

Asahi Group Partners with Varun Beverages Limited to Introduce Iconic CALPIS Brand in India​

Asahi Group Holdings, Ltd. has announced a significant business alliance agreement with Varun Beverages Limited (VBL) to launch the globally recognized CALPIS brand into the Indian market. This partnership aims to introduce a ready-to-drink, non-alcohol/non-carbonated dairy based product line under the CALPIS name.

The debut is set for the second half of 2026 or thereafter. The initial offering will feature two distinct flavor variants: Original and Mango. This venture marks Asahi Group’s entry into India's non-alcohol/non-carbonated beverage segment.

CALPIS, a fermented milk-based beverage that has been enjoyed for more than a century in Japan, offers both concentrate and ready-to-drink versions.

Partnership Structure and Market Potential​

Under the terms of the alliance, Asahi Group Holdings will maintain responsibility for product development and provide technical support required for the production of CALPIS-branded beverages. Simultaneously, its local subsidiary will oversee brand management and marketing operations in India. Varun Beverages Limited is tasked with handling all manufacturing, distribution, and sales activities.

The partnership aims to combine Asahi Group’s focus on product development and marketing with Varun Beverages' established strengths, creating a mutually beneficial venture.

India represents an extremely promising market for non-alcohol beverages, driven by its population of over 1.4 billion. The beverage segment in the country has seen substantial growth, expanding by approximately 2.3 times in volume over the past decade through 2025. This expansion is attributed to increasing health consciousness among consumers, along with demographic shifts and the growth of the wealthy middle-class.

Leadership Comments on the Alliance​

Atsushi Katsuki, President and Group CEO at Asahi Group Holdings, expressed delight regarding the launch. "We are delighted to introduce the CALPIS brand, which has been enjoyed in Japan for more than a century, to consumers in India," stated Katsuki. He added that the partnership with Varun Beverages is crucial, citing VBL as a leading beverage company possessing strong manufacturing capabilities and extensive market reach.

Varun Jaipuria, Executive Vice Chairman at Varun Beverages Limited, shared his perspective on the collaboration. "We are honored to partner with Asahi Group," he said, noting CALPIS’s over hundred years of heritage. Jaipuria added that combining Asahi's global expertise with VBL's manufacturing strength and distribution network positions the company to establish CALPIS as a leading brand for Indian consumers.

Company Background​

Varun Beverages Limited is noted as the second largest franchisee of PepsiCo outside the United States. The company operates 53 production facilities across India and abroad. Varun beverages distributes and sells carbonated soft drinks, non-carbonated beverages, and packaged drinking water under trademarks owned by PepsiCo.

Asahi Group Holdings is a global leader offering diverse brands in beer, alcohol, non-alcohol beverages, and food. Established in Japan since 1889, the Group aims to achieve sustainable growth through strategic partnerships, such as this franchise agreement.

VBL Stock Price Movement​

Shares of Varun Beverages Limited are edging higher to ₹545.85 as of 11:55 AM today, gaining 0.33% in live trading. The stock maintains a strong upward trajectory, supported by a high traded volume of 4.75 million shares during the market session.