FMCG

Representative Matters

• Advised on restructuring of the Coca-Cola Company’s bottling operations in India through slump sale and asset sale transactions.
• Advised Tata Global Beverages Limited (TGBL) group in the setup of a 50:50 Joint Venture to operate Starbucks café’s in India.
• Advised the United Spirits Group in the acquisition of approximately 75% shares of Shaw Wallace (SWC), a listed company and the country’s second largest spirit manufacturer. The size of this acquisition was approximately USD 400 million, after which the United Spirits Group has become the third largest spirit manufacturer in the world.
• Advised United Spirits Limited in the acquisition of Whyte & Mackay, the world’s leading Scotch distiller. The size of the acquisition was USD 1.18 billion, and the firm advised on the acquisition financing as well. By this acquisition United Spirits Group became the second largest spirit manufacturer in the world.
• Advised and assisted Varun Beverages (International) Limited, the leading bottler of PepsiCo in South Asia, in receiving primary investment from Standard Chartered Bank’s Mauritius based private equity fund. on its acquisition of approx. 20% stake in Wow Momo Foods Private Limited, by way of a primary and a secondary purchase from certain angel investors on investment in Bikaji Foods International Limited, a leading brand of Indian ethnic snacks and sweets.
• Advised Yum Restaurants (India) Private Limited, (owners of Pizza Hut, KFC and Taco Bell) on the regulatory framework on payments of royalty to foreign collaborators under technology collaboration agreements and other aspects under the extant foreign direct investment policy. on the regulatory framework on payments of royalty to foreign collaborators under technology collaboration agreements and other aspects under the foreign direct investment policy. on acquisition of 235 KFC and Pizza hut franchisees of Yum Inc. in India and Sri Lanka by a group of strategic financial investors led by Samara Advisors India, Goldman Sachs, CX Partners, IDI Emerging Markets, Adveq group and Celox Asset Management.
• Advised Devyani International Limited, which controls a chain of 180 fast-food restaurants across the country, in receiving its first private equity investment from ICICI Ventures, India’s largest private equity fund. The deal involved acquisition of a minority stake by ICICI Ventures in Devyani.
• Represented Lightspeed Venture Partners in the approximately INR 300 million private equity investment in Food Vista Private Limited, an ‘internet only’ restaurant operating through the portal www.freshmenu.com
• Advised Tencent Investment on its purchase of shares of Bundl Technologies Private Limited which owns and operates Swiggy (the food delivery app)- both in the form secondary purchase from existing shareholders as well as in the form of primary issuance in USD 1 Billion transactions.
• Advised Rothschild Trust in relation to the acquisition by Del Monte Pacific Ltd, producers, marketers and distributors of premium food and beverage products of 40.1% stake in FieldFresh Foods Pvt Ltd., the joint venture between EL Rothschild Ltd. and Bharti Enterprises.
• Acted for and advised Gaja Capital on its investment in Bakers Circle India (Private Limited). Gaja Capital, is mid-market focused private equity firm, invested in Bakers Circle, which is engaged in processing, selling and distributing specialized frozen foods.
• Advised GSK on their global joint venture with Pfizer’s consumer health division. Under the transaction, Pfizer contributed its entire consumer healthcare business to GSK’s existing consumer healthcare business, and in consideration, received 32% equity stake in the joint venture entity.