INDIA: Radico lines up Amruth brands, distillery
Indian spirits manufacturer Radico Khaitan is looking at buying some of the liquor assets of South India-based Amruth Group.
The Jagdale family-promoted group is planning to off-load three brands - Old Port Rum, Bejois Brandy and Prestige Whisky - and its distillery in the State of Kerala. The move is part of a restructuring exercise by the family, who has brought in Ernst & Young to advise on the sale.
Last year, the three brands collectively had sales of 1m cases. The total value of the assets has been pegged at about INR1.5bn (US$33.9m). Amruth will focus on its largest brands - Macquintosh Whisky and Amrut Single Malt - after selling the three non-core brands.
When contacted by just-drinks today (16 January), a Radico Khaitan spokesperson said that the company would not like to comment on the happenings before anything is finalised.
Ramesh Vangal, owner of distribution house Mason & Summers, is also reportedly in talks to acquire the assets.
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