The liquor maker controlled by Diageo United Spirits Ltd (USL) has approved the sales and franchises of selected brands to drinks based in Singapore for total cash RS 820 Crore.

USL and Brew have carried out a definitive agreement for sales of all businesses related to 32 brands, including Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov icon brands, for total cash considerations of around 8,200 million, subject to adjustments customs. Sales portfolios include all businesses related to 32 brands set below, including related contracts, permits, intellectual property rights, related employees, and manufacturing facilities, “USL said in submitting regulations regulatory regulations. on May 27.

In addition to the above, USL and Brrew have entered a 5 -year franchise setting for 11 other brands, including Bagpiper.

Moneycontrol was first reported about this development on April 12.

USL has also given rights to rights, subject to certain conditions, to change the regulation of fixed term franchises to one with eternal rights to use and/or call options to obtain brands with previously agreed considerations. Certain additional agreements, including transitional service arrangements , in connection with the sale of business ventures and franchise agreements and options have been approved to be executed between USL and Bred, “said the archiving.

The company expects to complete the transaction at the end of the quarter ended September 30, 2022.

Hina Nagarajan, Director of Implementing & CEO of USL, commented: “The transaction reflects ongoing evolution of popular portfolio management since 2016, when the company moved to a franchise model in many states, to enable sharp focus on prestige & prestige & above ‘. It is an important step to re-establish our portfolio to serve our mission which is stated publicly to provide a sustainable two-digit top-line growth. “

The acquisition of this iconic brand gives Budrew with a unique platform to expand its ambition to become a trusted household drink company in India. These brands have been pleased to consumers for several generations, and we are very happy with the prospect of strengthening this inheritance. The seeds will revitalize the brands. This is through the distribution, innovation and investment that was expanded. After the acquisition of the Molson Coors beer business last year, we will now participate in the mainstream category, making various Indian Alcobev players in India, “said Ravi Deol, the head of the seeds.