Diageo, Radico Khaitan Ltd enter into 50:50 JV

New Delhi, Aug 21 (UNI) Diageo, consumer goods company with brands like Johnny Walker-Black Label and the Smirnoff range of vodka in its basket, today said it will set up a 50:50 joint venture with Indian liquor company Radico Khaitan Ltd, to exploit the large and developing Indian-made foreign liquor (IMFL) segment.

The joint venture is subject to obtaining the requisite regulatory approvals, and the details will be finalised post the approvals.

''Radico is privileged to partner with Diageo, which is the blue chip in the premium alcohol beverages business worldwide,'' Radico Khaitan Chairman Dr Lalit Khaitan said.

The proposed venture will bring together the strengths of the two companies in brand marketing&distribution to create innovative international quality products for the modern Indian consumer.

Diageo has a strong presence in the premium scotch segment with leading brands in India such as - Johnnie Walker-Black Label, Black&White and VAT 69 and premium vodka with its Smirnoff range.

Radico has three brands in the Millionaire Club Survey of Drinks International (UK-based trade magazine). it has the most awarded brands for Quality in its portfolio (2006)- Magic Moments Vodka, Old Admiral Rum, 8 PM Bermuda Rum, Old Admiral Brandy, Contessa Rum, 8 PM Excellency Brandy, Whytehall Whisky&8 PM Whisky.

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