M&A M&A
Varun Beverages to acquire 50% in Sri Lanka's Everest Industrial for $3.75 M
Source EIL (opens in a new tab)Economic Times (opens in a new tab)BSE Announcement (opens in a new tab)
Gurugram-based, publicly listed FMCG player Varun Beverages is to acquire a 50% stake in Everest Industrial Lanka (Pvt) Ltd (EIL) for USD 3.75 million (about INR 32 crore).Incorporated in 2003, EIL is a manufacturer of cold merchandizing equipment (visi-coolers, bottle/chest coolers, display chillers, ice cream conservators and water coolers).The company recorded a turnover of USD 1.74 million for the financial year ended December 31, 2024.