Varun Beverages has announced that the company’s Board of Directors has approved a proposal to enter into an agreement to manufacture Kurkure Puffcorn for PepsiCo India Holdings Private Limited as a part of their network of co-packers.
PepsiCo India has been manufacturing and marketing Kurkure, a brand of crispy puff composed of rice, lentils, and maize.
Varun Beverages is a major player in the beverage industry and one of the largest franchisee of PepsiCo India in the world (outside USA). It manufactures and sells a wide range of carbonated soft drinks (CSDs), as well as a large selection of non-carbonated beverages (NCBs), including packaged drinking water sold under trademarks owned by PepsiCo.
This is the first time the company has forayed into the production of non-beverage item.
Varun Beverages has received franchises for several PepsiCo products in 27 Indian states and 7 Union Territories as of today. India is the largest market, accounting for almost 75 percent of revenue from operations (net) in fiscal 2021. VBL has also been given the franchise for a number of PepsiCo goods in and Zimbabwe, Zambia, Morocco, Sri Lanka and Nepal.