Kyndal Joins Race For Udv Brands
Kyndal, the UK-based liquor major, has expressed interest in buying out the whisky brands of United Distilleries & Vintners (UDV) India, part of Diageo Plc, which are up for sale.
Kyndal has an alliance with the Manu Chhabria group company Shaw Wallace Distilleries, which too is in the race for the UDV brands. Jumbo group sources, however, said that both the companies have put their bids independently and there is no difference in interests in the existing relationship.
As per the alliance between Kyndal and Shaw Wallace, Kyndal will produce and distribute latter's spirits brands overseas, while Shaw Wallace will sell the multinational's brands in India.
Others bidders for UDV brands include the UB group, UDV India president Deepak Roy, who is making a pitch for the management buy-out, the Bacardi-Radico Khaitan combine and Pernod Ricard.
However, sources said that Deepak Roy's bid enjoyed a distinct advantage as UDV may prefer exiting through a deal with its own team. Also, UDV exited Sri Lanka by giving up its business to the then company chief executive Mohan Tissanayagam.
UDV India has put its entire Gilbey's range of Indian whiskies --Green Label, Old Gold, Gold Club and the manufacturing plant in Maharashtra on the block. The combined sales of the UDV brands are pegged at around 2.5 million cases. Post selloff, the multinational will focus on developing its international brands, which include Smirnoff vodka and Johnnie Walker scotch whiskies in India.