Cupid has entered into an agreement for the sale and transfer of the unit of the Diageo Group company in Gopalpur, Odisha, for Rs 22.5 crore
In line with its expansion strategy, Cupid Breweries and Distilleries has entered into an agreement with United Spirits to acquire an operational alcoholic beverages manufacturing unit in Odisha for Rs 22.5 crore.
The company said in an exchange filing that it has entered into an agreement for the sale and transfer of the unit of the Diageo Group company in Gopalpur, Odisha. The agreement has been executed for the proposed purchase of land, building, plant and machinery along with premium excise licenses pertaining to the production unit.
The agreement excludes applicable taxes, registration charges and stamp duty. Pursuant to the terms of the agreement, the company has paid an advance of Rs 1.00 crore (inclusive of applicable TDS).
“The proposed transaction represents a significant step in the company’s growth and expansion strategy and envisages the acquisition of a large alco-beverage production unit having an installed production capacity of approximately 2,50,000 cases per month,” the company added in the exchange filing.
Upon completion of the transaction, the company expects to significantly strengthen its manufacturing capabilities and establish a platform for future growth.
Earlier in March 2026, United Spirits entered into definitive agreements for the sale of the 100 per cent equity stake held in its wholly owned subsidiary Royal Challengers Sports or RCSPL to a consortium comprising Aditya Birla Group (ABG), The Times of India Group (Times), Bolt Ventures (Bolt) and Blackstone’s perpetual private equity strategy, BXPE for a total consideration of Rs 166.6 billion in an all cash transaction.
