Varun Beverages to Establish Wholly-Owned Subsidiary for Alcoholic Beverages and JV in Tunisia
Varun Beverages will form a wholly-owned Indian subsidiary, KIVA Spirits, for alcoholic beverages and a joint venture in Tunisia for diverse beverage production. Mr. Prathmesh Mishra appointed as CEO & MD of the Indian subsidiary.
Entering the alcoholic beverage market and establishing a joint venture in Tunisia represents a significant strategic move that could substantially impact the company's future revenue streams and market presence.
The company is expanding into new segments like alcoholic beverages and entering new geographies through a joint venture, indicating strategic growth and diversification.
Varun Beverages Limited (VBL) announced a strategic expansion through its Board of Directors' meeting held on August 25, 2026. The board approved the incorporation of a wholly-owned subsidiary in India, to be named KIVA Spirits and Company Limited, which will focus on the Ready to Drink (RTD), Alcoholic Beverages, and allied products segment. This subsidiary will have an authorized share capital of ₹10 crore and a paid-up equity share capital of ₹9 crore, with VBL holding 100% ownership.
Additionally, the company will appoint Mr. Prathmesh Mishra as the CEO & Managing Director for this new Indian subsidiary. Mr. Mishra brings over 30 years of extensive experience in consumer businesses, including significant leadership roles at Diageo and Pernod Ricard, and previously served as Chairman of Royal Challengers Bangalore.
Furthermore, VBL will establish a joint venture in Tunisia, tentatively named Varun Beverages Tunisia SA, subject to regulatory approvals. This JV will engage in the production and distribution of various beverages, including carbonated soft drinks, juices, water, and dairy. VBL will hold a 75% stake in the Tunisian JV, with Bevanda holding the remaining 25%. The proposed share capital for the Tunisian entity is TND 9 Million.
The Board meeting commenced at 4:00 P.M. and concluded at 4:13 P.M. on August 25, 2026. Detailed disclosures for these incorporations have been made as per SEBI regulations.
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