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Our Bureau

New Delhi , Aug. 21

International liquor major Diageo and Radico Khaitan Ltd on Monday announced that the two companies have reached an agreement to form a 50:50 joint venture to exploit the large and developing Indian made foreign liquor segment.

This is subject to obtaining the requisite regulatory approvals. The details of the joint venture will be finalised after the approvals, a company statement said.

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

Diageo has a strong presence in the premium Scotch segment with leading brands in India.

More Stories on : Alliances & Joint Ventures | Breweries

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