Varun Beverages to foray into alcohol biz, set up subsidiary

Varun Beverages is entering the alcohol business by incorporating a new subsidiary. The company has appointed Prathmesh Mishra as the chief executive officer. This new entity will focus on ready-to-drink alcoholic beverages and allied products. Varun Beverages will also establish a joint venture company in Tunisia. This diversification follows recent agreements allowing expansion into other drink businesses.