Varun Beverages to acquire 50% stake of Sri Lanka's Everest Industrial for $3.75 mn

Varun Beverages on Monday announced the acquisition of a 50% stake in Everest Industrial Lanka (Private) Limited (EIL) for a consideration of USD 3.75 million (approximately INR 320.88 million) following the approval of board of directors.

In an exchange filing, the company stated, “EIL, a company in Sri Lanka, is engaged in the business of production, manufacturing, distribution, and selling of commercial visi-coolers and related accessories.”

This strategic move is expected to enhance Varun Beverages’ supply chain capabilities and expand its footprint in the South Asian market.