Radico Khaitan enters into agreement with Diageo

Radico Khaitan Ltd has announced that the Company has entered into an Agreement with Diageo, the world’s leading premium Drinks Company with iconic brands such as Johnnie Walker and Smirnoff in its portfolio, to form a 50:50 joint venture to exploit the large and developing Indian Made Foreign Liquor (IMFL) segment. This is subject to obtaining the requisite regulatory and other approvals.

The proposed venture will bring together the strengths of the two companies in brand marketing & distribution to create innovative international quality products for the consumer in the IMFL segment.

The two companies will however, continue to operate in their own independent businesses outside of the JV and will maintain their respective brand portfolios.

Source : Equity Bulls

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