RJ Corp hires ex-Diageo executive Prathmesh Mishra for drinks expansion
RJ Corp has appointed former Diageo executive Prathmesh Mishra as it evaluates a move into premium alcoholic beverages. The Varun Beverages parent is also exploring a possible purchase of Bira 91 founder Ankur Jain’s 17.8% stake.
What happened
RJ Corp has hired former Diageo executive Prathmesh Mishra as it explores entering premium alcoholic drinks. Its Varun Beverages unit can diversify under a new
Key facts
- Spirits volumes grew about 4% in FY26 to 440 million cases
- Spirits volume growth was 1.6% a year earlier
- Beer volumes rose 4% to 474 million cases
- Varun Beverages has been PepsiCo's bottler for nearly three decades
- RJ Corp is exploring purchase of Bira 91 founder Ankur Jain's 17.8% stake
Why this matters
The leadership appointment and exploration of Ankur Jain’s Bira 91 stake point to a potential platform acquisition or strategic foothold in India’s premium beer and alcohol segment.
What to watch
- A disclosed agreement to buy Ankur Jain's Bira 91 stake, or reports of RJ Corp seeking a larger holding.
- New senior hires from Diageo, United Breweries, Pernod Ricard, AB InBev or state-excise functions.
- RJ Corp board approvals, special-purpose vehicles or capital raises tied to alcohol, brewing, distilling or beverage acquisitions.
- Bira 91 fundraising, creditor developments, management changes, plant closures or revised valuation signals.
- Applications for brewery, distillery, bottling, import, brand-registration or state distribution licenses.
- Announcements of co-packing, distribution or institutional-sales partnerships involving RJ Corp, Varun Beverages or Bira 91.
- Changes in state alcohol taxes, retail rules, direct-to-consumer permissions or interstate movement regulations that improve premium-drinks economics.
- Appoint additional alcobev finance, regulatory, route-to-market and state-excise specialists.
- Conduct diligence on Bira 91's ownership structure, debt, production footprint, state registrations, distributor economics and cash-burn requirements.
- Explore a purchase of Ankur Jain's 17.8% stake alongside commercial agreements for bottling, warehousing, institutional sales or distribution.
- Evaluate bolt-on targets in premium spirits, craft beer, non-alcoholic beer, mixers and ready-to-drink beverages.
- Build a state-by-state market-entry plan, prioritizing premium consumption markets with manageable licensing and distribution structures.
- Test whether Varun Beverages' logistics and cooler network can create cost or access advantages without breaching PepsiCo-related contractual constraints.