In a major development, AgriBio Spirits Ltd has proposed to acquire 100% of Solkit Distillery & Brewery P. Ltd., a leading player in the Indian Made Foreign Liquor (IMFL) segment. The acquisition is a strategic move for AgriBio Spirits to consolidate its position in the liquor market.
Key Highlights:
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Acquisition Information: AgriBio Spirits will be purchasing all shares of Solkit Distillery & Brewery, expanding its presence in prominent markets such as Rajasthan and Himachal Pradesh.
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Solkit Distillery Operations: Solkit Distillery has a state-of-the-art facility located in Udaipur, Rajasthan, with a licensed capacity of 10,000 K.L. per annum. It deals in the manufacturing of whisky, rum, gin, and other spirits.
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Market Penetration: Solkit Distillery has made its presence felt in Rajasthan and will be expanding to other states, providing a growth opportunity for AgriBio Spirits.
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Historical Significance: Solkit Distillery's roots lie in Udaipur Distillery Co. Pvt. Ltd., established in 1947, famous for its legendary Sohanphil XXX Rum and Asha Liqueur.
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Strategic Partnership: Solkit Distillery has existing manufacturing partnerships with leading liquor firms, such as Allied Blenders and Distillers Ltd. and Sikkim Distilleries Ltd.
The takeover is likely to increase AgriBio Spirits' market share and broaden its product base, tapping into Solkit Distillery's experience and existing brand presence.
Sources: Solkit Distillery & Brewery P. Ltd., Economic Times, Business Standard