Allied Blenders to Acquire Majority Stake in New Spirits Venture with Ranveer Singh

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Allied Blenders to Acquire Majority Stake in New Spirits Venture with Ranveer Singh

Team FS

05/Sep/2024

What's covered in the Article:

Allied Blenders and Distillers will acquire an 80% stake in a new company with Oh Five Oh Talent LLP.

The new entity will focus on luxury and premium spirits, including manufacturing and distribution.

The investment is valued at up to INR 70 Crore, with the deal to complete within 90 days.

Allied Blenders and Distillers Limited (ABDL) has announced a significant move in the alcoholic beverages industry. On September 4, 2024, the company’s Board of Directors approved the acquisition of an 80% stake in a new venture to be formed in collaboration with Oh Five Oh Talent LLP, represented by renowned film celebrity Ranveer Singh. This strategic partnership is set to establish a new entity focused on the manufacturing, distribution, licensing, and marketing of luxury and premium spirits.

The new company will be part of the alcoholic beverages sector, with a focus on premium and luxury brands. This acquisition aligns with ABDL’s strategy to expand its footprint in the high-end spirits market. The investment in the new venture is valued at up to INR 70 Crore, and the acquisition is expected to be completed within the next 90 days.

This acquisition does not fall under related party transactions, and there are no additional governmental or regulatory approvals required for the deal. The new entity’s formation will mark ABDL’s entry into a niche market of luxury and premium spirits, leveraging Ranveer Singh’s brand presence and Oh Five Oh Talent LLP’s industry connections.

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Allied Blenders to Acquire Majority Stake in New Spirits Venture with Ranveer Singh

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