M&A

M&A

Cupid Breweries to acquire United Spirits' alcobev unit in Odisha for Rs 22.5 Cr

Economic Times  

Hyderabad-based Cupid Breweries and Distilleries is to acquire an alcoholic beverage manufacturing unit in Gopalpur, Odisha, from publicly listed United Spirits for INR 22.50 crore. The transaction includes the transfer of land, buildings, plants, and machinery, along with premium excise licences.The manufacturing unit has an installed production capacity of approximately 250,000 cases per month. United Spirits, a Diageo Group company, is divesting the unit as part of its strategy to streamline operations and focus on its core brands and key manufacturing facilities.