Varun Beverages Share Price Surges to ₹628.15, Up by 3%

Varun Beverages was in the spotlight on Tuesday. On November 19, 2024, Varun Beverages share price opened at ₹616.00, up from its previous close of ₹609.85. At 10:10 AM, the share price of Varun Beverages was trading at ₹628.15, up by 3% on the NSE. The market cap of the company was ₹2,04,068.69 crore.

Recent Developments 

Earlier in November, Varun Beverages made a significant announcement regarding its expansion plans. The company entered into a Share Purchase Agreement (SPA) with Tanzania Bottling Company SA to acquire 100% of the share capital of SBC Tanzania Limited. This acquisition, valued at US$154.50 million (₹13,040 million), is subject to regulatory approvals, including from PepsiCo Inc., and is expected to be completed by March 31, 2025. SBC Tanzania is involved in manufacturing and distributing PepsiCo-branded and other non-alcoholic beverages in Tanzania.

In addition, Varun Beverages signed an SPA with Ghana Bottling Company Limited to acquire 100% of the share capital of SBC Beverages Ghana Limited for US$15.06 million (₹1,271 million). This acquisition is also pending regulatory approvals and is expected to be finalized by February 28, 2025. SBC Beverages Ghana operates in the beverage manufacturing and distribution sector in Ghana, focusing on PepsiCo-branded products.

Acquisition of Lunarmech Technologies

Furthermore, Varun Beverages announced plans to acquire the remaining 39.93% stake in Lunarmech Technologies Private Limited, a subsidiary of the company, for ₹2,000 million. Once completed, Lunarmech will become a wholly-owned subsidiary of Varun Beverages. This transaction is expected to be finalized by January 31, 2025.

These strategic acquisitions highlight Varun Beverages’ commitment to expanding its footprint in both the African market and its core business in India.

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