Varun Beverages Limited has approved the incorporation of two new companies to drive strategic expansion. A wholly-owned Indian subsidiary, KIVA Spirits and Company Limited, will focus on Ready to Drink (RTD) and Alcoholic Beverages. Additionally, a joint venture in Tunisia, Varun Beverages Tunisia SA, will engage in beverage production and distribution, including soft drinks, juices, and dairy products. These moves signal a significant diversification effort for the company.
Strategic Business Expansion Approved
The Board of Directors of Varun Beverages Limited, at a meeting held on August 25, 2026, approved a significant strategic move to diversify its business operations. The company will establish a wholly-owned subsidiary in India, to be named KIVA Spirits and Company Limited. This new entity is intended to carry on the business of Ready to Drink (RTD) products, Alcoholic Beverages, and allied products, subject to requisite approvals.
New Leadership for Diversification
To spearhead the company’s diversification into the RTD and Alcoholic Beverages segments, Mr. Prathmesh Mishra has been appointed as the CEO & Managing Director of the proposed Indian subsidiary. Mr. Mishra brings over 30 years of experience in consumer businesses, including senior leadership roles at Diageo and Pernod Ricard India. His profile is detailed in Annexure – III.
International Joint Venture in Tunisia
Further expanding its global footprint, Varun Beverages Limited will also incorporate a joint venture company in Tunisia. This entity, potentially named Varun Beverages Tunisia SA or a similar approved name, will focus on the production and distribution of a range of beverages. This includes carbonated soft drinks, juices, water, and dairy products, contingent upon receiving necessary approvals. The proposed share capital for this venture is TND 9 Million, with Varun Beverages Limited holding 75% and Bevanda (Tunisia) holding 25%.
Detailed Disclosure Information
Further details regarding the incorporation of KIVA Spirits and Company Limited and the Tunisian joint venture are provided in Annexure – I and Annexure – II, respectively. These annexures contain information as required by Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026. The company is also uploading this information on its website, www.varunbeverages.com.
Source: BSE
