VBL Expands Cooler Business amid Weather-Driven Sales Decline

Varun Benevrages, which is PepsiCo's second-largest global bottling partner, will produce visi-coolers through its joint venture, White Peak Refrigeration, established in collaboration with Everest International Holdings.

With a 50% ownership stake in this new joint venture, the company will continue its operations in the manufacturing of visi-coolers and other refrigeration equipment, as announced by VBL on Thursday. The company has invested Rs 21,25,00,000 as share capital in this venture, acquiring 2,12,50,000 equity shares of White Peak Refrigeration Pvt Ltd.

Recently, VBL has also obtained a 50% stake in Everest Industrial Lanka Pvt. Ltd., which is based in Sri Lanka. This company is involved in the production, manufacturing, distribution, and sale of commercial visi-coolers and associated accessories.

"We continue to strengthen our on-ground execution by adding more visi-coolers and ensuring wider product availability across retail touchpoints," Ravi Jaipuria, Chairman said during the release of company's Q2 CY25 results.

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In the final quarter, VBL commenced the commercial production of PepsiCo's snack product "Cheetos" in Morocco. The revenue from operations (after deducting excise / GST) experienced a decline of 2.5% year-over-year, amounting to Rs. 70,173.7 million in Q2 CY2025, compared to Rs. 71,968.6 million in Q2 CY2024. Varun Beverages' consolidated sales fell by 3.0%, totaling 389.7 million cases in Q2 CY2025, down from 401.6 million cases in Q2 CY2024.  The company attributed the decrease in figures to unusually high unseasonal rainfall during the quarter.

In India, VBL's sales volumes decreased by 7.1%, whereas international volumes saw an increase of 15.1%. The beverage giant has also launched new production facilities in Prayagraj (UP), Damtal (HP), Buxar (Bihar), and Mendipathar (Meghalaya).