Cupid Breweries & Distilleries

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, …