Law firm Khaitan & Co provides legal guidance to Kandhari Global Beverages in a nearly 10 billion rupee acquisition of Wave Beverages.
In a significant move, Kandhari Global Beverages has announced the acquisition of Wave Beverages' bottling operations for Coca-Cola, valued at approximately ₹1,000 crore. This deal consolidates Coca-Cola's bottling presence in India, particularly in parts of Punjab and Himachal Pradesh[1][2].
Khaitan & Co, a leading law firm, acted as legal advisors to Kandhari Global Beverages in this transaction. Their role included advising on the acquisition structure from regulatory and tax perspectives, conducting legal due diligence on Wave Beverages, and assisting with drafting, negotiation, and closing of the transaction documents[3][4][5]. The legal team was led by partner Sarthak Sarin, supported by associates and specialists on tax matters.
This is the second time Khaitan & Co has advised Kandhari Global Beverages on a significant transaction. Earlier this year, they advised on the re-franchising and purchase of Coca-Cola's bottling operations in North Gujarat[6][7].
Kandhari Global Beverages, a prominent player in the beverage industry, operates in various regions including Haryana, Delhi/NCR, Rajasthan, parts of Himachal Pradesh & Punjab, Chandigarh, Jammu & Kashmir, Leh and Ladakh, and Gujarat[8]. Wave Beverages, a licensed bottler of Coca-Cola for certain territories in Punjab and Haryana, will now be part of Kandhari's extensive network.
The acquisition process included thorough legal due diligence on Wave Beverages, ensuring a smooth and effective transaction[3]. The transaction documents were drafted, negotiated, and closed by the Khaitan & Co team, with the closing of the transaction also being assisted by them[4][5].
It is worth noting that Khaitan & Co was not previously associated with the licensing of Wave Beverages. The Bar & Bench platform provides a form for submitting Deals, Columns, and Press Releases for publication, but neither Khaitan & Co, Coca-Cola India, nor Kandhari Global Beverages are directly mentioned in this form[9].
The acquisition is a strategic move for Kandhari Global Beverages, expanding their distribution rights for popular soft drinks like Coca-Cola, Thumps up, Limca, Maaza, Minute Maid Nimbu, Pulpy Orange, Kinley Water in the territories assigned by Coca-Cola India[10]. The deal underscores the company's commitment to growth and strengthening its position in the beverage industry.
- The acquisition of Wave Beverages' bottling operations by Kandhari Global Beverages signifies a strategic advancement in the beverage industry, as it expands their business operations and finance opportunities.
- In the process of acquiring Wave Beverages, Khaitan & Co, a reputable law firm, played a crucial role, offering legal advice on regulatory, tax, and transaction matters, and conducting due diligence on Wave Beverages.
