Varun Beverages’ Kiva in talks to acquire Alcobrew

Varun Beverages Ltd’s newly incorporated subsidiary Kiva Spirits and Company Ltd is in discussions to acquire Alcobrew Distilleries India Ltd for an enterprise value of INR 20,000 million to INR 25,000 million, according to sources. Sources also indicated that other parties are in discussions with Alcobrew regarding a potential acquisition, although no deal has been formalised so far. Alcobrew is reportedly planning to launch its IPO in December this year, with the proposed listing attracting interest from potential acquirers. The Securities and Exchange Board of India (SEBI) granted its approval for the IPO on January 8, 2026. However, the specific opening and closing dates for the public subscription have not been formally announced. The company has a 12-month window from the approval date to launch the issue, subject to market conditions. The proposed transaction would give Kiva access to Alcobrew’s liquor brand portfolio, manufacturing facilities and distribution network, supporting Varun Beverages’ plans to establish a presence in the alcoholic beverages market. Alcobrew, in response to media queries, said it does not comment on or respond to media speculation and declined to address the queries. The company added that it would make the necessary announcements if any development arises that requires disclosure under applicable regulatory or statutory requirements.