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Informist, Tuesday, Aug. 25, 2026

 

--Varun Beverages incorporates co for alcoholic, ready-to-drink ops in India 

 

KOLKATA – Varun Beverages Ltd. Tuesday said its board has approved the incorporation of a wholly-owned subsidiary in India to, among other things, carry on the business of ready-to-drink alcoholic beverages and allied products. This subsidiary will be christened KIVA Spirits and Co. Ltd. Prathmesh Mishra has been appointed chief executive officer and managing director of the subsidiary.

 

In a filing with the bourses, Varun Beverages said it will also incorporate a joint venture company in Tunisia to, among other things, carry on the business of production and distribution of beverages, including carbonated soft drinks, juices, water, and dairy, subject to the receipt of requisite approvals. Varun Beverages will hold 75% stake in this joint venture company, which is expected to be named Varun Beverages Tunisia SA. 

 

Mishra, who will head KIVA Spirits, is a seasoned business leader with over 30 years of experience across consumer businesses. He most recently served as managing director for Korea and Japan at Diageo, where he was responsible for driving business growth and strategic leadership across two premium, complex markets in Asia. Before this international assignment, Mishra held several senior leadership positions at Diageo India.

 

Before joining Diageo, Mishra had spent 14 years with Pernod Ricard, India, where he held a range of leadership roles. Mishra had also served as chairman of the Indian Premier League franchise Royal Challengers Bangalore, which he helped transform into one of the more commercially successful sports brands in the country. 

 

Varun Beverages, which is the second largest franchisee of PepsiCo, Inc., in the world outside the US, with franchise operations in 10 countries and distribution rights in four more, reported an increase of over 15% on year in its consolidated net profit for the June quarter to a little over INR 15 billion. Its consolidated revenue for the quarter increased nearly 21% on year to nearly INR 87 billion. Tuesday, its shares closed at INR 438.00 on the National Stock Exchange, up 2.3% from Monday.  End

 

Reported by Avishek Rakshit

Edited by Himanshi Gupta

 

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