INDIA: UB shelves plans for RTDs in India – report
The UB Group has reportedly ditched plans to partner with Independent Liquor in the Indian RTD market.
Citing a UB spokesperson, local newspaper Business Line said today (20 August) that the Indian company has ended its partnership with Independent, as it is no longer interested in entering the RTD market in its home country.
In a separate report, Moneycontrol.com cited sources close to UB as saying that the group does not see much value in launching RTD beverages in India. No-one was available at UB for confirmation of the reports when contaced by just-drinks today.
The two companies have had a tie-up in India for the last four years, the report said, with UB even being linked to making a bid for the New Zealand company last year. Independent was believed to be worth in the region of up to US$839m at the time.
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