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Outcome of board meeting of Varun Beverages

Capital Market 

At meeting held on 09 August 2017

The Board of Varun Beverages at its meeting held on 09 August 2017 has approved the Company's intent to enter into a binding agreement to acquire PepsiCo India's previously franchised territories of the State of Odisha and parts of Madhya Pradesh along with three manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep), subject to the satisfactory completion of due diligence and final approval of PepsiCo. Upon completion of this acquisition, the Company will be a franchisee for PepsiCo products across 18 states and 2 Union Territories of India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 09 2017. 22:48 IST