INDIA: Radico to launch UK venture
Radico Khaitan, the second largest liquor company in India, has formed a joint venture with the UK-based distiller SPS.
According Radico's MD, Abhishek Khaitan, the venture will help roll out Radico brands in the UK spirits market. By the end of this financial year the company is expected to expand the venture, named SPS Radico. The venture will launch brands including Contessa rum and Magic Moments vodka in the UK.
While Radico Khaitan will handle sales, marketing and distribution functions, manufacturing will be outsourced to SPS.
Radico has recently set up a similar joint venture in South Africa with a local company.
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