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Cupid Breweries & Distilleries, the Indian business, has agreed to acquire an operational alcoholic beverage manufacturing unit in Gopalpur, Odisha, from United Spirits, the Indian arm of Diageo.
The transaction is valued at 225 million INR ($2.4 million). Under the terms of the agreement, Cupid Breweries & Distilleries has already paid an advance of 10 million INR ($120,000), inclusive of applicable tax deducted at source (TDS). The acquisition comprises land, buildings, plant and machinery, alongside premium excise licenses. Equipped with an installed production capacity of approximately 250,000 cases per month, the site is expected to support the company’s expansion plans in the alco-beverage segment.
In a regulatory filing, Cupid Breweries & Distilleries described the transaction as “a significant step in the company’s growth and expansion strategy”.
United Spirits, one of the leading beverage alcohol companies in India that manufactures brands such as Black Dog whisky, is divesting non-core assets as part of its strategy to streamline operations and focus on core brands.
Separately, the company also announced plans to close a manufacturing facility in Venkateshwara Nagara, in the Malkajgiri district of Hyderabad.
Source: Just Drinks / Business Standard / Economic Times
