INDIA: UB Group to sell liquor brands – report
The UB Group is looking to offload some of its liquor brands, according to local reports. The Indian drinks group, which became the World's second-largest spirits company by volume earlier this month, hopes to make over US$50m from the sale of some of its Indian Made Foreign Liquor (IMFL) brand portfolio, The Hindu reported today (30 June).
Following the completion of the Shaw Wallace & Co acquisition for US$300m three weeks ago, the UB Group now has a portfolio containing over 130 brands, selling around 56m cases in an IMFL market estimated at 112m cases per year, the newspaper noted.
"We can unlock well over US$50m by way of sale of some of our brands," the newspaper quoted a top UB official as saying. "We have had several offers from interested parties. We will go through a formal process when we get ready for the sale."
Speculation is rife about which brands the company will put up for sale, the paper added. No formal decision has been taken yet, however. "We have not yet carved up the brands for sale," the official told The Hindu.
The paper added that it has learnt that the group will not be selling any of its 12 million-plus selling brands that the newly-combined company owns.
The recent acquisition of Shaw Wallace by the Indian UB Group, owned by Vijay Mallya, created the world's second largest spirits producer by volume and significantly enhances UB's already powerful pos...
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