Diageo: United Spirits completes sale of business
(CercleFinance.com) - Late on Friday United Spirits Limited (Diageo India) announced that it has completed the bulk sale of the entire business associated with 32 brands in the Popular segment to Inbrew Beverages Private Limited.
This deed gives effect to the franchise of a further 11 Popular brands to Inbrew for a period of five years.
Subject to certain conditions, Inbrew will have an option, to convert the fixed term franchise agreement to a franchise agreement with perpetual rights of use and/or to acquire these brands.
United Spirits Limited says that the transaction reflects the increased importance of the Prestige & Above category and is an important step in delivering double-digit revenue growth.
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