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

  • Banning commercial surrogacy will end exploitation of women

    Thousands of infertile couples around the globe come to India—the world’s biggest hub for commercial surrogacy along with Thailand—to rent wombs

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Japan needs more women in high office

Japan does not rank high in international tables, when it ...

Jemima Raman

Things one learns on a potter's wheel

As things go, watching a shape emerge from a blob ...

Bubbles Sabharwal

Hold the world in the palm of your hand

There is absolute happiness and relative happiness. The poet John ...