Jurisdiction - India
India – CCI Approves Combination Between VBL, ADBL And PepsiCo India.

16 February, 2015


On December 29, 2014 CCI approved the proposed combination between Varun Beverages Limited (‘VBL’) , PepsiCo India Holding Private Limited (‘PepsiCo India’), Aradhana Drinks and Beverages Private Limited (‘ADBL’)(collectively referred as ‘Parties’) pursuant to execution of certain Business Transfer Agreements (‘BTA’).

PepsiCo India, a company incorporated in India, is a group company of PepsiCo Inc., which manufactures and markets carbonated soft drinks (‘CSDs’) and non-carbonated soft drinks (‘non-CSDs’) under its various brands including Pepsi. VBL, a franchisee bottler of PepsiCo India, and ADBL are engaged in marketing of Pepsi brand of beverages in India.

The proposed combination envisages (i) acquisition of four factories/bottling plants in the states of Haryana, Himachal Pradesh, Uttarakhand and Uttar Pradesh by VBL from PepsiCo India along with rights to distribute ‘Pepsi’ products in the territory of Chandigarh; and (ii) acquisition of an undertaking in Punjab by VBL from ADBL, as a going concern, on a slump salebasis. CCI observed that PepsiCo and VBL were not competitors and had a vertical relationship with each other. Further, post combination, there would be no significant change in market structure as PepsiCo India would continue to promote the Pepsi brand of beverages in India. Accordingly, CCI approved the proposed combination as it was unlikely to have any Adverse Effect in India.



For further information, please contact:


Zia Mody, AZB & Partners
[email protected]


Abhijit Joshi, AZB & Partners 
[email protected]

Shuva Mandal, AZB & Partners 
[email protected]


Samir Gandhi, AZB & Partners
[email protected]

Percy Billimoria, AZB & Partners 
[email protected]


Aditya Bhat, AZB & Partners 
[email protected]

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