Suntory and Narang Group Form Joint Venture in India
The objective of this equity participation is to actively develop beverage business operations in India by achieving synergy between the Narang Group's marketing power and sales network in India and Suntory's strengths in product development and production technologies.
29 May 2012 --- Suntory Beverage & Food Asia Pte. Ltd., a wholly owned subsidiary of Suntory Beverage & Food Limited Japan, entered into an agreement with Narang Group, one of the leading food and beverage import & distribution companies in India, to acquire 51% ownership of shares in Narang Connect under the Narang Group to establish a joint venture to be called Suntory Narang.
The objective of this equity participation is to actively develop beverage business operations in India by achieving synergy between the Narang Group's marketing power and sales network in India and Suntory's strengths in product development and production technologies.
In addition to the current foods importing and distributing operations, starting by commencing sales of the Orangina brand, Suntory Narang plans to actively expand the food and beverage business in India.
