The country’s largest liquor manufacturer United Spirits Ltd today announced the acquisition of Vishakhapatnam-based alcoholic beverages maker Tern Distilleries Pvt Ltd for Rs 13.42 crore.
“The share acquisition is for a consideration of Rs 13.42 crore,” United Spirits Ltd (USL) said in a filing to Bombay Stock Exchange.
After the acquisition Tern has become a wholly-owned subsidiary of the company, the filing said.
Tern Distilleries Pvt Ltd is engaged in the business of alcoholic beverages with a manufacturing facility at Thallapalem in Vishakhapatnam district.
United Spirits is part of the United Breweries Group promoted by Vijay Mallya and is also the world’s second largest liquor manufacturer with a capacity to produce 102 million cases per annum.