Varun Beverages board approves entry into alcoholic beverages segment

Appoints former Diageo executive Prathmesh Mishra as MD & CEO to lead KIVA Spirits and Company, its proposed wholly owned alcoholic beverages subsidiary

Varun Beverages’ board of directors on Tuesday approved plans to enter the ready-to-drink alcoholic beverage (alcobev) and allied product categories. The company will set up a wholly owned subsidiary in India named Kiva Spirits and Company and has appointed former Diageo executive Prathmesh Mishra as chief executive officer (CEO) and managing director (MD) of the entity, it said in a stock exchange filing.

 

Mishra joins Varun Beverages from Diageo, where he served as MD and CEO for South Korea and Japan. “He was responsible for driving business growth and strategic leadership across two premium, complex markets in Asia,” the filing said.

 

 

Mishra also held several leadership positions at Diageo India. He served as chief commercial officer for seven years, where he led the company’s commercial strategy and execution, and earlier as chief operating officer (West) for three years, where he oversaw regional operations and business performance.

 

He was also chairman of Royal Challengers Bengaluru, where he helped turn the franchise into one of the most commercially successful sports brands in India.

 

Prior to joining Diageo, he was with Pernod Ricard India, where he also held leadership positions. He began his career in 1993 as a management trainee with Inertia Industries and later worked with Mohan Meakin before joining Pernod Ricard in 2000.

 

The company has proposed a share capital of ~10 crore and equity share capital of ~9 crore, it said. The entity also requires approvals from the Ministry of Corporate Affairs.

 

In May, Varun Beverages signed a revised exclusive bottling agreement with PepsiCo. The revised agreement extended the bottling term to April 30, 2049, and removed the restriction saying that the company could only act as a special purpose vehicle for PepsiCo’s business.

 

In 2025, Varun Beverages’ African subsidiaries entered into a partnership with Carlsberg Breweries A/S to distribute the latter’s beer.

 

The company’s board also approved the incorporation of a joint venture (JV) entity in Tunisia to carry on the business of producing and distributing beverages, including carbonated soft drinks, juices, water, and dairy products, with a proposed share capital of TND (Tunisian dinar) 9 million.

 

Varun Beverages will hold 75 per cent of the JV, with the rest owned by Bevanda (Tunisia), according to the stock exchange filing.