MUMBAI (Reuters) - India’s No. 2 liquor maker Radico Khaitan Ltd said on Thursday it hopes to conclude a second international tie-up by October, after announing a distribution and marketing pact with a Japanese firm earlier in the day.
“We are in talks with two other players and we want to bring in iconic brands. We hope to announce at least one more equally significant announcement by October,” Ankur Sachdeva, vice president international business, told Reuters.
Radico Khaitan said it had tied up with Japan’s Suntory Liquors Ltd for marketing and distributing two of its super premium brands in India, but did not provide financial details.
The Indian firm will launch Suntory’s Yamazaki and Hibiki whiskey brands in India by June, Sachdeva said. The brands will be priced in the range of 6,500-10,000 rupees.
In December 2010, Radico Khaitan had told Reuters it was in exclusive marketing tie-up talks with three overseas companies and hoped to make a couple of announcements in the first quarter of FY12.
Radico Khaitan, which has brands such as 8 p.m. whiskey, Magic Moments, Contessa rum and Old Admiral brandy in its portfolio, has a marketing tie-up with California-based Ernest & Julio Gallo.
It also has a joint venture with the world’s largest liquor maker, UK’s Diageo Plc, to make and sell liquor products in India.
Shares of the company ended up 5.95 percent at 144.3 rupees in a flat Mumbai market.
Reporting by Nandita Bose; Editing by Sunil Nair