INDIA: Siva Soft Drink to sell drinks unit to Amrutanjan Health Care
Siva's Soft Drink is to sell its soft drink and fruit-based beverage business to Amrutanjan Health Care
Siva's Soft Drink is to sell its soft drink and fruit-based beverage business to Amrutanjan Health Care in India.
In a statement to the Bombay stock exchange late last week, Amrutanjan said it had entered into an agreement to purchase the business for INR262m (US$5.8m). The deal will include Siva's Fruitnik brand.
Chennai-based Siva Soft Drink produces soda, water and other fruit-based beverages for the Indian market.
Amrutanjan earns most of its revenue from ayurvedic and allopathic over-the-counter products, primarily in its home market of Tamil Nadu. However, the firm is looking to expand its portfolio by entering new categories including beverages, foods and homecare, according to the Financial Express.
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