|News by industry|
|Coffee, tea, soft drink, water|
|Thursday, May 24, 2012||14:01|
On 23rd May 2012, Suntory Beverage & Food Asia Pte. Ltd. (Singapore, CEO: Hong Sik Park), a wholly owned subsidiary of Suntory Beverage & Food Limited Japan, entered into an agreement with Narang Group (Mumbai, President: Rahul Narang), one of the leading food and beverage import & distribution companies in India, to acquire 51% ownership of shares in Narang Connect under the Narang Group to establish a joint venture to be called Suntory Narang.
The objective of this equity participation is to actively develop beverage business operations in India by achieving synergy between the Narang Group's marketing power and sales network in India and Suntory's strengths in product development and production technologies.
In addition to the current foods importing and distributing operations, starting by commencing sales of the Orangina brand, Suntory Narang plans to actively expand the food and beverage business in India.
About Suntory Narang
Suntory Narang Private Limited (Planned)
Nature of Business
Manufacture, importation and sales of food and beverages.
Business Scale 2012 sales target
700 million Japanese yen (1 INR = 1.7 JPY)
|Company: Suntory Holdings Limited|
|Address: 2-3-3 Daiba, Minato-ku - Tokyo|