Globus Spirits Ltd., a leading player in the spirits sector, announced its franchisee bottling agreement with United Spirits Ltd. or USL, in the state of Haryana.
The company said the initial contract would contribute volumes of around 0.75 million cases per annum and is expected to increase significantly going forward.
The operations have already commenced on April 20 with bottling for Bagpiper Whisky and will be followed by Moghul Monarch and Derby Special, it said.
The above agreement with USL is already in addition to the existing bottling tie-up with ABD for around 1.2 million cases annually. The arrangement further strengthens GSL's alliances in the franchisee bottling segment and will enable guaranteed utilization of capacities coupled with higher margins compared to the sale of bulk spirit.
Commenting on the development, Managing Director Ajay Kumr Swarup said, "We are pleased to announce this bottling contract with USL which is the largest player in the Indian alcobev market. With a capacity of close to around 85 million BL, we are well placed to provide our bottling services to other liquor manufacturers which is in sync with our 360 degree strategy. We can proudly say that we cater our bottling services to two of the world's largest selling whiskies, Bagpiper and Officer's Choice."
At the BSE, Globus Spirits closed Monday's trading at Rs.103.25, down 0.53 percent from the previous close.
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