United Spirits to buy JP Impex Incorp's Karnataka-based assets

Tags: Companies
Liquor firm United Spirits has inked a pact to buy JP Impex Incorp's Karnataka-based assets - including plant and machinery - for Rs 11.5 crore, enhancing its liquor manufacturing capacity in the state.

The company has entered into an asset purchase agreement with J P Impex lncorp, a partnership firm, for purchasing the building, plant and machinery, licences, transfer of lease hold rights on the land, all relating to the factory, United Spirits Ltd (USL) said in a filing to the BSE.

"The purchase of the above assets...Would facilitate an increase in the company's licensed Indian Made Foreign Liquor (IMFL) production capacity in Karnataka, which the company proposes to use for Tetra Pak production and availing logistical advantage," it added.

The company, which is now controlled by UK-based Diageo, sells various brands including Signature, Bagpiper, Antiquity and Royal Challenge in the country.

The USL scrip closed at Rs 2,333.10, up 1.67 per cent, on the BSE.

EDITORIAL OF THE DAY

  • Jobless growth is the biggest challenge for the Narendra Modi government

    Quality jobs that pay handsomely is the biggest indicator of the health of an economy, especially in a developing country like India.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

<b>Cut & Thrust:</b> At the cost of human life

Can we put a cost to human life? The incident ...

BK Chaturvedi

Committed, yet miles to go

Swachh Bharat is a mission to which everyone is committed. ...

Rajgopal Nidamboor

Soul consciousness and reason

The soul, in the philosophical writings of ancient Greece, has ...