Standard Chartered’s private equity arm has put $56 million into Varun Beverages International, a distributor of PepsiCo Inc. products, Reuters reported. The money is aimed at helping Varum grow its business in India. Varum operates in India, Sri Lanka, Nepal and Morocco.
(Reuters) – Standard Chartered Bank’s private equity arm said on Tuesday it has invested $56 million in Varun Beverages International Ltd (VBIL), a distributor of PepsiCo Inc beverages.
The funds will be used to accelerate VBIL’s growth in its beverage business in India and overseas, Standard Chartered said in a statement.
VBIL bottles, distributes and markets soft drinks sold under trademarks owned by Pepsico In, USA.
VBIL operates in India, Sri Lanka, Nepal and Morocco. (Reporting by Stephen Aldred; Editing by Jacqueline Wong)