Varun Beverages to acquire SA's BevCo

Leading bottler for PepsiCo, Varun Beverages Ltd (VBL) announced that it has acquired 100 percent stake in South Africa-based the Beverage Company (BevCo) along with its wholly-owend subsidiaries. The proposed transaction is valued at about Rs1,320 crore, the company said in a regulatory filing.

South Africa Company is engaged in the business of manufacturing and distribution of beverages licenced by PepsiCo Inc. It has franchise rights from PepsiCo Inc in South Africa, Lesotho and Eswatini with distribution rights for Namibia and Botswana. The company also has a portfolio of its own branded non-alcoholic beverages in South Africa.