Khaitan, AZB act on Kandhari Global Beverages' ~₹1,000 crore acquisition of Wave Beverages

Coca-Cola India's bottling partner Kandhari Global Beverages Private Limited has acquired Wave Beverages Private Limited for a deal value of ~₹1,000 crore.

Khaitan & Co has advised Kandhari Global Beverages on this acquisition. The Firm's role included assisting Kandhari Global Beverages on the structuring of the acquisition from regulatory and tax perspective, conducting legal due diligence on Wave Beverages, assisting with the drafting and negotiation of the transaction documents and the closing of the transaction.

The transaction team consisted of Sarthak Sarin (Partner), Swati Garg (Principal Associate), Aritro Gon (Senior Associate) and Gopal Gour (Associate) with assistance from Shaily Gupta (Partner) and Himanshu Goel (Principal Associate) on tax aspects.

Earlier this year, the Firm had advised Kandhari Global Beverages on the re-franchising and purchase of Coca Cola's bottling operations in North Gujarat.

AZB & Partners advised Wave Beverages and its selling shareholders, Chadha Family and Kandhari Family, on this transaction.

The transaction team consisted of Hardeep Sachdeva (Senior Partner), Priyamvada Shenoy (Senior Partner), Gaurav Priyadarshi (Partner), Apurv Ranjan (Senior Associate), and Associates Ayushi Mukherjee and Siddharth Tomar .

Kandhari Global Beverages is a Bottling Partner of Coca-Cola India, operating in the northern belt in Haryana, parts of Delhi/NCR, Rajasthan, parts of Himachal Pradesh & Punjab, Chandigarh, Jammu & Kashmir, Leh and Ladakh and Gujarat. The company owns distribution rights of the popular soft drinks like Coca-Cola, Thumps up, Limca, Maaza, Minute Maid Nimbu, Pulpy Orange, Kinley Water in the designated territories assigned by Coca-Cola India.

Wave Beverages is also a licensed bottler of Coca-Cola for certain territories in Punjab and Haryana.

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