Skip to content
Search

Latest Stories

London-based Ravi Deol acquires Diageo India brands

The sale portfolio covers the entire business undertaking associated with the 32 brands

UNITED SPIRITS LIMITED (USL), Indian subsidiary of Diageo, has announced the sale and franchising of selected brands to Inbrew Beverages for Rs. 8.2 billion (£83.5 million).

The transaction, which follows a strategic review of selected Popular brands of the business, does not include the McDowell’s or Director’s Special brands, which will be retained by USL.


The sale portfolio covers the entire business undertaking associated with the 32 brands, including the related contracts, permits, intellectual property rights, associated employees, and a manufacturing facility.

In addition, USL and Inbrew have entered into a five-year franchise arrangement for 11 other brands, with the latter has the option to convert the arrangement into one with perpetual rights to use and/or acquire the brands.

“The transaction reflects the continued evolution of the management of the Popular portfolio since 2016, when the company moved to a franchise model in many states, to enable a sharpened focus on ‘Prestige & Above’, Hina Nagarajan, managing director and chief executive of USL, commented.

“This is a significant move to reshape our portfolio in service of our publicly stated mission to deliver sustained double digit profitable top-line growth.”

Inbrew, owned by London based Indian businessman Ravi Deol, has lat year acquired Molson Coors’ beer business in India. The latest deal makes the largely beer-focussed company a diverse alcoholic beverages player in India, with popular brands like Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov now under its stable.

Deol, chairman of Inbrew, said: “The acquisition of these iconic brands provides Inbrew with a unique platform to extend its ambition of becoming India’s trusted household beverage company. These brands have delighted consumers over generations, and we are excited at the prospect of strengthening this legacy. Inbrew will revitalise these brands through expanded distribution, innovation and investments.”

Diageo said it expects to complete the transaction by the end of the quarter ending 30 September 2022.

More For You

Starmer and Modi

Starmer and Modi shake hands during a bilateral meeting in the sidelines of the G20 summit at the Museum of Modern Art in Rio de Janeiro, Brazil Brazil, on November 18, 2024. (Photo: Getty Images)

Getty Images

UK and India finalise free trade agreement after three years of talks

INDIA and the United Kingdom on Tuesday concluded a long-awaited free trade agreement after three years of negotiations. The deal, finalised in the context of past US tariff actions under president Donald Trump, is the most significant trade pact for the UK since it left the European Union.

The agreement between the world’s fifth and sixth largest economies aims to increase bilateral trade by £25.5 billion by 2040 through improved market access and eased trade restrictions.

Keep ReadingShow less
WhatsApp ends support

Switching to a newer device is now the only way to retain access to WhatsApp

iStock

WhatsApp ends support for these smartphone models from May 5

Some iPhone users will lose access to WhatsApp features including messaging, voice and video calls from 5 May, as the platform ends support for certain older devices.

The Meta-owned messaging service has confirmed it will now only support iPhones running iOS 15.1 or later. As a result, three older Apple devices — the iPhone 5s, iPhone 6, and iPhone 6 Plus — will no longer be able to run the app after the update takes effect.

Keep ReadingShow less
Air India’s success takes flight on women’s wings

On International Women’s Day 2025, Air India operated flights with all-women teams across the air and on the ground

Air India’s success takes flight on women’s wings

ON A recent Air India flight from Heathrow to Delhi in a brand new Airbus A350, a routine announcement from the flight deck said the aircraft was under the command of Neelam Ingale and Ruhani Dogra.

One of the female members of the cabin crew was surprised that Eastern Eye was surprised that both the pilot and co-pilot were women. This was nothing unusual, she indicated.

Keep ReadingShow less
World Bank backs upgrade of Bangladesh port

Chittagong’s Bay Terminal project aims to expand port capacity and boost export efficiency

World Bank backs upgrade of Bangladesh port

BANGLADESH and the World Bank last Wednesday (23) signed two financing agreements worth $850 million (£634.1m) to strengthen the country’s trade capacity, create jobs, and modernise its social protection system, the Washington-based global lender said.

The bulk of the funding – a sum of $650m (£484.8m) – will support the Bay Terminal Marine Infrastructure Development Project, an initiative to expand and modernise port facilities in the southeastern district of Chittagong. The project will include constructing a 6-km (3.7-mile) climate-resilient breakwater and access channels, allowing the port to accommodate larger vessels. This is expected to sharply reduce turnaround times, lower transportation costs, and boost Bangladesh’s export competitiveness.

Keep ReadingShow less
Adani Group

A logo of the Adani Group is seen on a commercial complex in Mumbai.

Reuters

India’s market regulator accuses Adani nephew of insider trading

THE Securities and Exchange Board of India (SEBI), India’s market regulator, has accused Pranav Adani, director of several Adani group companies and nephew of Gautam Adani, of sharing unpublished price sensitive information in violation of insider trading rules, according to a document reviewed by Reuters.

SEBI sent Pranav Adani a notice last year alleging that he shared details about Adani Green's 2021 acquisition of SB Energy Holdings with his brother-in-law before the deal was made public, a source and the SEBI document said.

Keep ReadingShow less