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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • FDI in insurance must be allowed with a rider to increase penetration

    The Union cabinet has cleared the proposal to raise foreign direct investment (FDI) in the insurance sector through the FIPB route from the current 26

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Which is safer? Flying or driving?

The recent tragedies involving the Taiwan’s TransAsia Airways flight, and ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture