United Spirits has announced the acquisition of a 15 per cent stake in Inspired Hospitality, the parent company of alcohol beverage brand, Pistola, for Rs 5.65 crore, as stated in a BSE filing on Thursday.
“The Company will subscribe to 3,494 (three thousand four hundred ninety-four) Compulsory Convertible Preference Shares (CCPS) and 10 (ten) equity shares of Pistola, constituting approximately 15.0 per cent of the paid-up share capital of Pistola (on a fully diluted basis),” the filing read.
Specialising in agave spirits, Pistola operates in the development, marketing, and selling of such beverages. The company does not possess a bottling unit facility but has outsourced this function to a third party.
United Spirits aims to bolster its presence in the premium craft segment through this investment, as mentioned in the filing.
Furthermore, the company noted that upon Pistola reaching specific pre-agreed milestones within a defined timeframe, United Spirits may consider acquiring the remaining shares held by other shareholders.
Established in 2010 by Rakshay Dhariwal and Radhika Dhariwal, Pistola is recognised as one of the emerging premium agave brands in India. The brand commenced its commercial operations in the agave spirits sector in December 2021.
In addition to India, Pistola’s products are distributed across the USA, Singapore and Thailand.
