Varun Beverages enters alcohol business, appoints ex-Diageo executive

•Varun Beverages approved incorporation of a wholly owned subsidiary to enter RTD alcoholic beverages business.

•Prathmesh Mishra, ex-Diageo executive, appointed as CEO and MD of the new subsidiary, KIVA Spirits and Company Ltd.

•KIVA Spirits will operate in RTD, alcoholic beverages, and allied products, subject to required approvals and Ministry of Corporate Affairs approval.

•Varun Beverages also approved incorporation of a joint venture in Tunisia for beverage production and distribution.