The Hindu : Deepak Roy bags UDVI's Gilbey's Green Label

Online edition of India's National Newspaper
Friday, Nov 29, 2002

Business

Business

Deepak Roy bags UDVI's Gilbey's Green Label

MUMBAI NOV. 28. International liquor major Diageo plc's Guinness UDV India (UDVI) has sold its domestic whisky brand `Gilbey's Green Label' to Deepak Roy, former managing director of the company, for around Rs. 60 crores.

The sale and share purchase agreement was signed between UDVI and Mr. Roy's Triumph Distellers & Vintners Pvt. Ltd. yesterday and the divestment was conducted through an auction process by DSP Merrill Lynch, Guinness UDV said in a statement here today. Mr. Roy's bid was supported by a consortium of banks, financial institutions and individuals, it added.

Gilbey's is now India's fourth largest brand with a share of over 8 per cent of the domestic regular whisky market. "The decision to sell our domestic whisky business is in keeping with Diageo plc's strategic focus to market its international brands Johnnie Walker, J&B Scotch, Smirnoff vodka and others," UDVI managing director, Amar Raj Singh, said.

As per the agreement, Mr. Roy, who nurtured and was instrumental in popularising the brand as UDV President-South Asia, Russia & Baltics till recently, will be able to use Gilbey's for five years post its sale to the new buyer. — PTI

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