India: Latest beverage news & analysis
It's not every day that one can accuse the world's biggest spirits producer of being a bit stupid, but my peers in India are making hay today, doing just that. But, before wading in against Diageo and the call by its United Spirits unit in India for chairman Vijay Mallya to stand down, ask yourself this one question: What difference does it make?
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.
Sula Vineyards has launched what it claims is India’s first premium grape brandy - Janus.
Heineken has bought United Spirits' remaining stake in India's United Breweries (UB) for INR8.72bn (US$137.2m).
Tilaknagar Industries is preparing to cede majority control to Indian whiskey rival Allied Blenders & Distillers, a report has claimed.
The Food Safety and Standards Authority of India (FSSAI) has said it plans to assess standards for alcoholic beverages, according to a report in Business Today India.
Pernod Ricard has confirmed that Guillaume Girard-Reydet, currently managing director of Pernod Ricard Wyborowa, and of Central Europe, will be appointed managing director of Pernod Ricard India.
Diageo's India MD has moved to United Spirits to head up a new luxury unit at the Diageo-controlled company.
Diageo has declined to comment on an Indian government investigation into United Spirit's books as fresh reports emerge over the subsidiary’s chairman, Vijay Mallya, and alleged loans made from the unit.
Tata Global Beverages has posted a sharp drop in net profits after impairment charges in China and Eastern Europe hit the bottom line.
The head of Sula Vineyards has warned that rising temperatures and unreliable rainfall is affecting the Indian company's wine production.
Diageo is reviewing its relationship with United Breweries Holdings and Vijay Mallya over India's United Spirits, after the division's board called on the entrepreneur to stand down as its chairman.
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