PepsiCo’s partner Varun Beverages will buy an additional 20% stake in Lunarmech Technologies Pvt Ltd for Rs 15 crore. Lunarmech makes and sells pet bottle caps and crown caps.
The deal will increase Varun Beverages’ stake in Lunarmech to 55%.
Through Angelica Technologies Pvt Ltd, Varun Beverages already owns a stake in Lunarmech. The company holds a 47.30% stake in Angelica, which owns 74% of Lunarmech.
Incorporated in May 2009, Lunarmech is headquartered in New Delhi. The firm posted a revenue of Rs 77.54 crore for the financial year ended March 2019, up from Rs 62.13 crore the year before.
Varun Beverages is one of the largest franchisees in the world of carbonated and non-carbonated beverages sold under brands owned by PepsiCo. The company produces and distributes beverages like Pepsi, Diet Pepsi, Mountain Dew, Tropicana Slice and Aquafina packaged drinking water. It further has the franchise for the Ole brand of PepsiCo products in Sri Lanka.
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