M&A

M&A

Allied Blenders to acquire National Industrial Corp's UP unit assets for Rs.70-Cr; invest Rs.40-Cr m

BSE Announcement   Economic Times  

Mumbai-headquartered Allied Blenders and Distillers has acquired a non-operational distillery and bottling facility from Moradabad, Uttar Pradesh-based National Industrial Corporation for INR 70 crore. The acquire will make an additional investment of INR 40 crore for facility upgradation and to add a bottling unit, taking the total investment to INR 110 crore.The acquired assets include land, building, plant, machinery, and licenses. Allied Blenders and Distillers plans to use this investment to enhance its backward integration capabilities. The location of the facility in Moradabad provides an adequate land parcel for expanding existing capacity and building further backward integration capabilities.This acquisition is intended to enhance the acquirer company's Indian Made Foreign Liquor (IMFL) bottling capacity in Uttar Pradesh and expand distillery capacity to increase captive consumption of extra neutral alcohol (ENA). The transaction is anticipated to be completed by July 31, 2026.