India: Latest beverage news & analysis
Finally, after a near four-month delay United Spirits reported its full-year results today.
Finally, after almost 20 months, Diageo has got what it initially wanted in India. The company today (2 July) confirmed it now holds the majority of shares in United Spirits. This achievement, however, has cost way more than Diageo initially expected; to the tune of around US$1bn.
As expected, Diageo has stepped up its bid to take majority control of India’s United Spirits Ltd (USL). The UK-headquartered company has launched a tender offer for a further 26% stake in the UB Group unit, which, if successful would raise its stake to around 55%.
A survey of consumers in India has revealed that alcoholic beverages may have the most to gain from high levels of optimism in the country.
Five years ago this week talk of Diageo taking a stake in United Spirits first emerged. It set in train a series of events that this year saw the Smirnoff producer secure control of the Indian spirits firm.
An Indian state that proposed a complete alcohol ban within ten years is to water down its plans after an industry backlash, according to reports.
United Spirits is again asking shareholders to vote on plans to allow it to produce and sell the spirits brands of parent Diageo in India.
John Distilleries, the Indian spirits producer, is gearing up to enter the US market in 2015 with its Paul John single malt whisky brand.
Diageo has said it is “surprised and disappointed” after losing a vote by United Spirits' shareholders over plans for the firm to produce and sell some of Diageo's spirits brands in India.
Hindustan Coca-Cola Beverages has unveiled plans for a a US$160m manufacturing plant in southern India.
PepsiCo has completed the franchising of its bottling operations in north and east India after expanding a partnership with Varun Beverages.
SABMiller has appointed a new MD for its India business as the current incumbent is stepping down after 17 months in the role.
United Spirits, the Diageo-controlled Indian drinks firm, has remained in the red in its half-year despite a rise in second-quarter volumes and sales.
United Breweries' (UB) first-half sales and volumes increased in line with the industry as strong beer found good growth.
Beam Suntory has begun bottling its flagship Bourbon, Jim Beam, in India as its steps up its focus on the key market.
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