India's Varun beverages to enter S. Africa with $159 million deal
BENGALURU (Reuters) -Pepsi India bottler Varun beverages said on Tuesday it will buy South Africa-based The Beverage Company in a deal valued at 13.2 billion rupees ($158.71 million), enabling it an Key Points
ThePrintExplained: Why Varun beverages shares jumped 18% to hit 52-week high today
Varun beverages shares jumped nearly 18 per cent in early trade to hit a 52-week high of Rs 1,380 apiece. At around 12:45 am, shares of the company were trading 10.97 per cent higher on the National Stock Exchange (NSE) at Rs 1,300.20. Key Points
India TodayVarun beverages fixes record date for stock split; how many extra shares investors will get?
Varun Beverages, the second largest bottling company of PepsiCo's beverages, has fixed the record date for a stock split in the ratio of 1:2. Varun beverages is among the top picks of Axis Securities for June month in the large-cap basket. Key Points
mintJapanese Co Kirin to invest $25m more in B9 beverages
The transaction, made through purchase of fresh shares, will boost Kirin's holding in B9 beverages beyond the current nearly 20%, the executives said requesting anonymity. Another American financial investor is also close to investing $25 million for an additional stake in B9 Beverages, which is expected to be closed in the coming weeks, said one of the executives cited above. Key Points
Economic TimesPre-IPO party: Tiger Pacific Capital latest to pour into Bira 91 Keg
Tiger Pacific Capital acquires 4% of B9 beverages for $25 million, strengthening its capital base. The acquisition includes strategic partners and blue chip financial sponsors across geographies. Ankur Jain plans to raise $50 million for pre-IPO companies and listed securities. Key Points
Economic Times
An idea whose time has come: Sugar taxation could spell a healthier India
It's about time the country levied GST rates on packaged beverages that vary by their sugar content. Many countries do as we need to refine our fiscal incentives too. Key Points
mintPepsi India bottler Varun beverages posts profit growth on steady volumes
Pepsi India bottler Varun beverages (VARB.NS) on Thursday reported a 26.2% jump in its second-quarter profit, underpinned by improved product mix, a slide in input costs and higher volume growth. Key Points
ReutersVarun beverages only Nifty FMCG stock to turn multibagger; will spirits remain high?
Varun Beverages, Pepsicos second-largest franchise outside of the US, has seen a significant increase in share prices. The company is the only one belonging to the Nifty FMCG index that has garnered multibagger returns in just one year. Such strong figures have been attributed to consistent earnings growth upgrades, near-monopoly positions in the beverages industry, the expansion of distribution reach and executing capabilities. The company has recently commissioned a manufacturing unit in Bihar and has incorporated a subsidiary in South Africa to expand its reach further. Despite the bullish sentiment, some analysts remain cautious. Key Points
Economic TimesVarun beverages Q1 results: Net profit rises 69% YoY to Rs 429 crore, stock split announced
Varun Beverages' revenue from operations grew 37.8% YoY to Rs 3,952.5 crore. Varun beverages expects approval of equity shareholders of a stock split that involves splitting the existing equity shares into two. The objective behind the stock split is to enhance the liquidity of the firm's equity shares and encourage small investors to participate in them. Key Points
Economic TimesVarun beverages to acquire South African bottler for Rs 1,320 crore
Bevco has franchise rights from PepsiCo Inc. in South Africa, Lesotho and Eswatini. Further, it also has distribution rights for markets like Namibia and Botswana Key Points
Business Today
CAIT urges Nirmala Sitharaman to reduce GST on beverages to support small retail, kirana outlets
Ease of doing business for MSMEs: Some of the beverages, available at micro or small retail outlets, with reportedly low sugar content are iced tea, lemonade, coconut water, etc., in comparison to packed sweetened fruit juices, soft drinks, energy drinks, etc., which have relatively higher sugar content. Key Points
FinancialexpressFMCG brands experimenting with pack sizes to curtail competition: Abneesh Roy
Campa Cola is priced a bit cheaper compared to other beverages in terms of Pepsi, Coca-Cola or other colas as well. Is this is the beginning of a price war? Will that be something of a threat for these other companies? Campa Cola has not advertised for a few decades. The consumers who used to know Campa Cola may not be a very relevant customer base now because of the positioning of this kind of product. So those would be the bigger challenges. Key Points
Economic TimesVarun beverages to acquire PepsiCo's South Africa bottler Bevco
Varun beverages Ltd (VBL), a major PepsiCo franchise bottler globally, announced the acquisition of South Africa's Beverage Company (Bevco) and its subsidiaries at a Rs 1,320 crore enterprise value. The move aims to expand VBL's presence in the African market, where Bevco holds PepsiCo franchise rights. VBL anticipates completing the cash transaction before July 31, 2024 Key Points
Economic Times38 stocks turn multibaggers since last Holi; at least 32 double investor wealth
Shares of Mazagon Dock Shipbuilders, a public sector defence company, have surged about 187% since the last Holi. Other notable names, where investors have enjoyed bumper returns include, Ujjivan Financial Services (145%), Varun beverages (115%), Kirloskar Ferrous Industries (101%), among others. Key Points
Economic TimesCoca-Cola India forays into the alcohol segment
Alcohol is a very big category and we have on purpose decided to experiment, Coca-Cola global marketing chief Manolo Arroyo told ET in a recent interview. We're very clear what kind of beverages consumers are demanding. I call it fuel for the body and the mind. Key Points
Economic Times
Labour pangs: Punjab businessmen offer incentives
Attendance and referral incentives, financial assistance, coolers and cold beverages at workplaces…the Punjab industry is going the extra mile to... Key Points
The Tribune IndiaCosMc, McDonald's bold spinoff, takes on Starbucks and Dunkin
According to McDonald's, CosMc is envisioned as a 'small format, beverage-led concept' featuring a distinctive and limited menu. Described as being inspired by nostalgia and offering a selection of bold, refreshing beverages and delectable treats, CosMc's arrival on Earth is designed for human enjoyment, as stated by the company. Key Points
Economic TimesPepsiCo India may name George Kovoor as president
George Kovoor, senior vice-president and general manager, beverages at PepsiCo, has been in the current role since January 2022. He has had a three-decade long association with the maker of Pepsi and Mountain Dew fizzy drinks, Tropicana juices, Lays snacks and Doritos tortilla chips, in various leadership operating roles in Asia-Pacific, China and New York. Key Points
Economic TimesIndia's Barbeque-Nation posts second consecutive quarterly loss
India's Barbeque-Nation Hospitality (BARQ.NS) on Monday reported a loss for a second straight quarter, hurt by slowing demand and rising expenses. Key Points
ReutersIndia will set its own standards on sweeteners: FSSAI
Last week, Reuters reported that the World Health Organisation (WHO)'s cancer research arm, the International Agency for Research on Cancer (IARC), will publish a report that aspartame could be declared a possible cancer risk to humans. Aspartame, an artificial sweetener, is used by soft drinks like Diet Coke, ice-cream and chewing gum. Key Points
Economic Times