INDIA: IMFL market to be Bacardi's next move
By introducing the Whyte Hall, Genesis and Royal Peg brands, Bacardi is not only hoping to create a dent in the whisky segment but this latest venture with Radico means that Bacardi will also a position to tap the IMFL market with Whyte and Mackay's three whisky brands.
Jayant Kapoor, Bacardi managing director told The Times of India newspaper that the move to enter into a joint venture with Radico follows the acquisition of American Beverages (Mauritius) Ltd, an investment company, which holds 51% in Whyte and Mackay's venture with Radico (called Whyte and Mackay India Ltd) by Bacardi.
He said the acquisition of 51% would lead to strengthening Bacardi's position in India with a presence in both white spirits and the whisky segment.
The newspaper continued to report that the three IMFL brands along with the malt manufacturing facility of Whyte and Mackay in Uttar Pradesh were acquired for approximately Rs 28 crore.
Shobhan Roy, formerly head of BDA LTD, will take control of the new joint venture but the two companies will run separately.
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