Varun Beverages Expands through New RTD Subsidiary and Tunisian Joint Venture

Varun Beverages Expands through New RTD Subsidiary and Tunisian Joint Venture​

Varun Beverages Limited has announced significant strategic diversification, approving the incorporation of a wholly-owned subsidiary in India and a joint venture company in Tunisia to expand its operational footprint.

The Board of Directors of Varun Beverages Limited approved the incorporation of a new entity in India focused on Ready to Drink (RTD) and alcoholic beverages, as well as a joint venture in Tunisia aimed at beverage production and distribution. The company also announced the appointment of Mr. Prathmesh Mishra as the CEO and Managing Director of the new Indian subsidiary.

Launching KIVA Spirits and Company Limited in India​

The new wholly-owned subsidiary, KIVA Spirits and Company Limited, is intended to carry the business of RTD, Alcoholic Beverages, and allied products. Varun Beverages Limited will serve as the holding company for KIVA Spirits and Company Limited.

Key details regarding the establishment of KIVA Spirits are as follows:

International Expansion into Tunisia​

In parallel, the company is incorporating a joint venture in Tunisia. The entity, planned as Varun Beverages Tunisia SA or a similar name, will focus on the production and distribution of beverages, including carbonated soft drinks, juices, water, and dairy. Varun Beverages Limited will be the holding company of the Tunisian entity.

The details of the Tunisian venture include:

Mr. Prathmesh Mishra Appointed to Lead RTD Venture​

The company has appointed Mr. Prathmesh Mishra as the Chief Executive Officer and Managing Director of the proposed wholly-owned subsidiary, KIVA Spirits and Company Limited.

Mr. Mishra brings over 30 years of experience in consumer businesses. His career includes serving as Managing Director for Korea and Japan at Diageo, where he focused on driving growth and strategy in premium markets. Prior to this international role, he held senior leadership positions at Diageo India, including Chief Commercial Officer for seven years and Chief Operating Officer - West for three years.

Before joining Diageo, Mr. Mishra spent 14 years with Pernod Ricard, India, where he held various leadership roles, including Vice President - North and Region Head in West and Central. He also served as Chairman of Royal Challengers Bangalore (RCB).

Mr. Mishra holds a Bachelor of Arts from the University of Delhi (1991) and a Post Graduate Diploma in Business Management (PGDBM) from IMS Ghaziabad (1993).

VBL Stock Price Movement​

Today, shares of Varun Beverages Limited rallied in the post-market session, closing up 2.34% or ₹10.00 to settle at ₹438. The stock saw significant activity throughout the day, with a total traded volume reaching approximately 9.48 million shares.