United Spirits sells site to fledgling India firm Cupid Breweries & Distilleries

United Spirits, Diageo’s Indian arm, has agreed to merchantability a accumulation tract successful the eastbound authorities of Odisha to section concern Cupid Breweries & Distilleries.

In a banal speech filing, Cupid Breweries & Distilleries said the tract successful Gopalpur has a accumulation capableness of astir 250,000 cases per month.

The fledgling steadfast described the acquisition arsenic “a important measurement successful the company's maturation and enlargement strategy".

Cupid Breweries & Distilleries volition wage a information of Rs225m ($2.4m). The institution has already paid an beforehand of Rs10m nether the presumption of the agreement.

Just Drinks has approached Cupid Breweries & Distilleries and United Spirits for further comment.

Last week, United Spirits, which has been reshaping its manufacturing web successful India, announced the closure of a manufacturing tract successful the confederate metropolis of Hyderabad.

In a banal speech filing, United Spirits, which makes brands specified arsenic Black Dog whisky, said the closure is portion of its “multi-year supply-chain agility programme” approved by the committee successful 2023.

Cupid Breweries & Distilleries was acceptable up successful 1986 arsenic Cupid Trades and Finance Limited. In 2024, the institution signalled it was moving into beverage intoxicant with a alteration successful its sanction to Cupid Breweries & Distilleries.

Last month, the radical said its committee had approved a program to research “potential opportunities” to get further manufacturing sites crossed India.

The radical stated it had "operational, under-implementation and
acquisition-stage projects" that correspond a full yearly accumulation capableness of
around 8.4 cardinal cases of IMFL, 1.5 cardinal cases of brew and conscionable nether 1.1 cardinal litres of "craft/micro brewery capacities".

The filing, dated 19 May, added: "The committee further noted that aggregate projects are astatine precocious stages of operational readiness and that the absorption continues to prosecute successful discussions with prospective strategical investors and concern participants successful the involvement of the company’s semipermanent maturation and enlargement plans."

"United Spirits sells tract to fledgling India steadfast Cupid Breweries & Distilleries" was primitively created and published by Just Drinks, a GlobalData owned brand.

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