Khaitan and AZB lawyers take action in the over one-thousand-crore acquisition of Wave Beverages by Kandhari Global Beverages
Kandhari Global Beverages, the bottling partner for Coca-Cola in India, has made a significant move by acquiring Wave Beverages for approximately ₹1,000 crore. This acquisition expands Kandhari Global Beverages' reach in the beverage industry.
The transaction was advised by Khaitan & Co, with Sarthak Sarin, Swati Garg, Aritro Gon, Gopal Gour, Shaily Gupta, and Himanshu Goel leading the advisory team. Khaitan & Co's role included assisting Kandhari Global Beverages with the structuring of the acquisition, legal due diligence, drafting and negotiation of transaction documents, and closing of the transaction.
On the other hand, AZB & Partners advised Wave Beverages and its selling shareholders, the Chadha Family and Kandhari Family, on this transaction. The AZB & Partners team included Priyamvada Shenoy, Siddharth Tomar, Ayushi Mukherjee, Apurv Ranjan, Gaurav Priyadarshi, and Hardeep Sachdeva.
Wave Beverages, a licensed bottler of Coca-Cola for certain territories in Punjab and Haryana, will now be a part of Kandhari Global Beverages' operations. Kandhari Global Beverages currently operates in the northern belt of India, including Haryana, Delhi/NCR, Rajasthan, parts of Himachal Pradesh & Punjab, Chandigarh, Jammu & Kashmir, Leh and Ladakh, and Gujarat. With this acquisition, they hold distribution rights for Coca-Cola, Thumps up, Limca, Maaza, Minute Maid Nimbu, Pulpy Orange, Kinley Water in the designated territories assigned by Coca-Cola India.
This is not the first time Khaitan & Co has advised Kandhari Global Beverages. Earlier this year, they had also advised on the re-franchising and purchase of Coca Cola's bottling operations in North Gujarat.
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[1][5] Source: Khaitan & Co Press Release
The financial aspects of this acquisition were overseen by Khaitan & Co, who also provided legal advice on structuring, due diligence, document drafting, and transaction closure for Kandhari Global Beverages, a significant player in the Indian business sector. Wave Beverages, a licensee of Coca-Cola, will now operate under Kandhari Global Beverages, expanding their reach within the nation's finance and business spheres.
