PepsiCo India’s bottling partner Varun Beverages (VBL) on Monday, March 25, announced it has received nod from the Competition Commission of India (CCI) for its proposal to acquire franchise rights of the foods and snacks major in southern and western India.
The CCI in its meeting held on March 22 considered and approved the proposed acquisition, VBL stated in a regulatory filing.
In February, VBL had announced its plans to acquire franchise rights of PepsiCo in southern and western regions.
The company’s board had approved entering into a binding agreement with PepsiCo India Holdings to acquire franchise rights in the two regions for a national bottling, sales and distribution footprint in seven states and five Union territories.
Full Content: Bloomberg
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