Varun Beverages Expands Portfolio With ₹1,314.68 Million Crickley Dairy Acquisition In South Africa

New Delhi: Varun Beverages is pushing deeper into new beverage categories, this time through a South Africa deal that brings dairy and juice products into its portfolio.

Expands Into Dairy

Bevco has signed an agreement to fully acquire Crickley Dairy, marking Varun Beverages’ entry into value-added dairy and juice-based drinks. The deal, executed on March 17, 2026 at 1:53 PM India time, gives the company full ownership, subject to regulatory approvals including clearance from South Africa’s competition authorities.

Deal Value Details

The acquisition is pegged at an enterprise value of ZAR 238 million, which translates to ₹1,314.68 million based on an exchange rate of 1 ZAR = ₹5.52, as outlined in the Annexure on page 2 of the filing. The transaction does not involve any prior shareholding in Crickley and is structured as a complete buyout from Clark Holdings Proprietary Limited.

Strategic Diversification Push

The company is using this acquisition to broaden its product mix beyond traditional beverages. The filing notes that the move aligns with Varun Beverages’ strategy to diversify into higher-value categories like dairy and juice-based drinks, signaling a shift toward more premium and nutrition-linked segments within its international markets.

Clean Transaction Structure

The deal is not classified as a related party transaction, and Crickley along with the seller are not linked to the promoter group. As highlighted in the disclosure table on page 2, the agreement does not include complex rights such as board nomination or capital structure restrictions, indicating a straightforward acquisition framework.

The Crickley acquisition underscores Varun Beverages’ intent to scale its global presence while tapping adjacent categories, with regulatory approvals now the key milestone before completion.