Varun Beverages' arm to buy Devyani's Kenya business for $32M, deepens East Africa play
VBL Industries will acquire Devyani Food Industries' Kenya dairy beverages, juices and packaged water operations for $32 million, including a 52-acre site, by August 1, 2026. The related-party deal expands VBL's East Africa footprint alongside a new Asahi tie-up for Calpis in India. Shares fell 3.78% to ₹495.70 against a ₹654 target.
Varun Beverages' subsidiary VBL Industries to acquire Devyani Food Industries' Kenya dairy beverages, juices and packaged water business for $32M, deepening East Africa presence. Related-party deal; also partnering Asahi for Calpis brand in India.