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Created: 2025-06-19 14:18:18 UTC

United Spirits Ltd. (USL) is acquiring a majority stake in Nao Spirits & Beverages (NAO), the company behind craft gin brands 'Greater Than' and 'Hapusa'. 🍸

- 𝗔𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻 𝗗𝗲𝘁𝗮𝗶𝗹𝘀: USL will acquire approximately XXXXX% of NAO's share capital. The total consideration is approximately ₹110 crores.
- 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: The acquisition will happen in two parts.
  ▪ Purchase of shares from existing shareholders and fresh subscription of shares.
- 𝗡𝗔𝗢 𝗕𝗲𝗰𝗼𝗺𝗲𝘀 𝗮 𝗦𝘂𝗯𝘀𝗶𝗱𝗶𝗮𝗿𝘆:  Upon completion, NAO will become a subsidiary of USL.
- 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗥𝗮𝘁𝗶𝗼𝗻𝗮𝗹𝗲: The acquisition is aimed at strengthening USL's presence in the Indian premium craft gin segment.
- 𝗡𝗔𝗢'𝘀 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀: NAO is in the business of development, marketing & sales of craft alcoholic beverage products. It's brands include 'Greater Than', 'Hapusa', and 'Pipa' (rum).
- 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝘀: NAO's turnover for FY24 was ₹77.73 crores, with net sales of ₹34.83 crores.
- 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲: The first part of the acquisition is expected to be completed by June 27, 2025. The second tranche is expected to be completed by June 30, 2026.
- 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗖𝗼𝗺𝗺𝗲𝗻𝘁𝗮𝗿𝘆: Praveen Someshwar, MD and CEO of Diageo India (USL), stated that the acquisition represents a pivotal step in exploring future growth opportunities in Indian craft spirits. 🎉 Anand Virmani, Co-Founder & CEO, Nao Spirits & Beverages, expressed excitement about joining Diageo India. 🤝

📊 UNITED SPIRITS LTD | 🏷️ Press Release / Media Release

🌐 Details:

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**Related Topics**
[acquisition](/topic/acquisition)
[spirits](/topic/spirits)
[$unitdsprbo](/topic/$unitdsprbo)

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