Gaja part-exits India's John Distilleries to US trade buyer

According to a release Gaja will continue to remain invested in the company. Financial details of the deal have not been disclosed, but according to a report in The Times of India, the deal values JDPL at about INR10 billion ($154 million). The report also said that Gaja has sold a 28% stake, and will exit the remaining 15% to Sazerac over the next two years. Promoter Paul John will continue to hold the remaining 57%.

JDPL is one of India’s leading alcohol producers, with more than 13 million cases sold last year and revenue of INR28 billion. The company’s portfolio includes popular brands such as Original Choice Whisky, Bangalore Malt, and Paul John Single Malt. It also controls premium wine brand Big Banyan.

Sazerac has a portfolio of more than 350 brands across a wide range of alcoholic beverages, including Southern Comfort and EH Taylor bourbons and the Mr. Boston distillery. The investment provides Sazerac an entry into India, one of the world’s largest and fastest-growing markets for alcoholic beverages.

Gaja invested $12 million in JDPL in 2011 out of its first fund, which closed in 2008 with $200 million. The GP’s second fund closed last year at $240 million. It mainly targets investments that leverage the growing Indian consumer market: recent deals include non-banking finance company Kinara Capital, which raised a INR960 million round led by Gaja earlier this year.

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• Topics
• South Asia
• Consumer
• Trade sale
• India
• Gaja Capital Partners
• Exit