John Distilleries Founder Open to Sazerac Stake Sale
The founder of the Indian liquor maker is exploring a deal to sell his remaining 40 percent stake to the U.S. spirits group. The company expects to turn a profit by 2028.
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John Distilleries, the Bengaluru-based liquor producer, is prepared to divest its founder's remaining stake to the United States spirits giant Sazerac. This potential transaction follows a previous valuation of the Indian firm at approximately 40 billion rupees ($426.48 million). Sazerac, which owns prominent brands such as Svedka vodka and Corazon tequila, currently maintains a 60% majority stake in the company after acquiring shares from Gaja Capital nearly a decade ago.
