Allied Blenders to pick up 80% stake in JV with Ranveer Singh

5 Sep 2024 , 10:53 AM

Allied Blenders and Distillers Ltd (ABDL), the maker of Officer’s Choice whisky, announced on Wednesday (September 4) that it has received board approval to acquire an 80% stake in a new company. The said company is being formed in collaboration with film star Ranveer Singh, represented by Oh Five Oh Talent Limited Liability Partnership.

This new company, which is yet to be incorporated, will manufacture, distribute, license, and market luxury and premium spirits, including both owned and third-party brands.

The acquisition, worth up to ₹70 Crore, will not be considered a related party transaction. The collaboration with Oh Five Oh Talent LLP, which is represented by film celebrity Ranveer Singh, intends to harness their combined skills to strengthen ABDL’s position in the alcoholic beverage sector.

The new company will focus on the high-end spirits sector, broadening ABDL’s portfolio and market reach. The acquisition is scheduled to be finalised within 90 days of the agreement’s signing.

In Q1 2024-2025, Allied Blenders & Distillers Ltd’s revenue decreased by -6.82% compared to the same period last year, reaching ₹759.35 Crore. On a quarterly growth basis, Allied Blenders & Distillers Ltd’s revenue has fallen by -1.38% over the last three months.

In Q1 2024-25, company’s net profit increased by 516.36% compared to the same period last year, reaching ₹11.20 Crore. On a quarterly growth basis, Allied Blenders & Distillers Ltd has increased its net earnings by 564.73% during the last three months.

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