Asahi taps Varun Beverages to bring Japan's CALPIS to India by H2 2026
Asahi Group has inked a franchise alliance with PepsiCo bottler Varun Beverages to launch its dairy-based, non-carbonated CALPIS brand in India in Original and Mango flavours by H2 2026, leveraging VBL's manufacturing and distribution muscle.
What happened
Japan's Asahi Group has signed a franchise alliance with Varun Beverages to launch its CALPIS dairy-based, non-carbonated beverage brand in India by H2 2026, in
Key facts
- Rs 546.95
- +0.51%
Why this matters
The franchise structure — rather than a JV or equity tie-up — signals Asahi is testing India demand capital-light, leaving room for deeper M&A or buy-back optionality post-2026.