United Spirits signs sales, franchise agreements with Inbrew for select brands

[ad_1] board of United Spirits(USL), in which UK-based Diageo has a stake, on Friday approved the sale of some of its popular brands and franchisees to Inbrew Beverages for Rs 820 crore in a cash deal. USL and Inbrew have entered into definitive agreements for the sale of their entire business venture involving 32 brands, including iconic brands such as Haywards, Old Tavern, White-Mischief, Honey Bee, Green Label and Romanov. The deal is subject to customary adjustments, USL said in a late night announcement on BSE. The move follows a…