Varun Beverages plans to enter the alcoholic beverages segment and set up a joint venture in Tunisia, according to a regulatory disclosure dated August 25, 2026.
The company plans to set up KIVA Spirits and Company Limited as a wholly owned subsidiary in India. The new company will focus on ready-to-drink (RTD) alcoholic beverages and related products, subject to the required approvals. Varun Beverages will own 100% of KIVA Spirits. The proposed authorised share capital is Rs 10 crore, while the paid-up equity capital will be Rs 9 crore, which will be invested in cash. The company will need prior approval from the Ministry of Corporate Affairs for the incorporation.
Prathmesh Mishra has been appointed CEO and Managing Director of the proposed subsidiary. He brings more than 30 years of experience in the consumer industry and most recently served as Managing Director for Korea and Japan at Diageo. Before that, he spent seven years as Chief Commercial Officer at Diageo India and three years as Chief Operating Officer for the West region.
Mishra also spent 14 years with Pernod Ricard India, where he held leadership roles across North, West and Central India, as well as CSD operations and key accounts. He was also chairman of Royal Challengers Bangalore. He began his career in 1993 as a management trainee at Inertia Industries and later worked with Mohan Meakins before joining Pernod Ricard in 2000.
Alongside its India plans, Varun Beverages is also looking to set up a joint venture in Tunisia for the production and distribution of carbonated soft drinks, juices, water and dairy products, subject to the required approvals.
The proposed joint venture will be called Varun Beverages Tunisia SA, or another name approved by the regulator. Varun Beverages will hold a 75% stake, while Bevanda (Tunisia) will own the remaining 25%. The proposed share capital of the venture is TND 9 million. The company will also need prior approval from Tunisia’s National Register of Enterprises.
