India, May 27 -- The deal, structured as a cash transaction, is expected to close on or before May 30, 2025

Varun Beverages Limited (VBL), a leading bottling partner of PepsiCo, has announced the acquisition of a 50 per cent equity stake in Everest Industrial Lanka (EIL) for Rs 32.08 crore ($3.75 million).

EIL, headquartered in Sri Lanka, specialises in the production, manufacturing, and distribution of commercial visi-coolers. The acquisition, approved by the Investment and Borrowing Committee of VBL's Board of Directors, has also received clearance from Sri Lanka's Board of Investment. The deal, structured as a cash transaction, is expected to close on or before May 30, 2025.

In FY 2024, Everest Industrial Lanka reported operational ...