The agreement was executed on March 17, 2026, between Bevco, Clark Holdings Proprietary Ltd (seller), and Crickley Dairy Proprietary Ltd. Bevco will acquire the entire equity stake in Crickley for an enterprise value of ZAR 238 million, equivalent to ₹1,314.68 million (₹131.468 crore) at an exchange rate of 1 ZAR = ₹5.52.
The transaction is subject to regulatory and other approvals, including clearance from the Competition Commission of South Africa. The company said the acquisition is in line with its strategy to diversify its product portfolio into new categories, including value-added dairy and juice-based beverages.
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Varun Beverages currently does not hold any shares in Crickley. It also clarified that Clark Holdings Proprietary and Crickley Dairy Proprietary are not related to its promoter, promoter group, or group companies. The transaction does not fall under related party transactions, the filing added.
On Monday (March 16), brokerage firm BoFA Securities maintained its ‘buy’ rating on Varun Beverages, along with a price target of ₹550, which implies an upside potential of up to 40% from Friday’s closing levels.
The brokerage wrote in its note that the risk-reward for the company is favourable, as it has good earnings potential, with its growth in teens, even before the inorganic upsides, and its stock valuations below historical averages and lower than peers as well.
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Varun Beverages is also strengthening its portfolio to meet peak India summer demand and navigate the competitive intensity, the note said. Overseas business for the company is steady and long-term gains hinge on new forays such as snacks, beers and a foray into Kenya.
Varun Beverages shares had dropped to a 52-week low last week, having posted monthly losses in January and February as well. The last instance of the stock declining for three months in a row was back in the April-June period of 2025.
Shares of Varun Beverages Ltd ended at ₹406.50, down by ₹1, or 0.25%, on the BSE today, March 17.
(Edited by : Shoma Bhattacharjee)
First Published: Mar 17, 2026 6:16 PM IST
