Mumbai, May 22 -- The changes in the aforesaid agreement include extension of the EBA for a term up to 30 April 2049, revised from earlier term up to 30 April 2039.

The earlier EBA restricted VBL from carrying out any activity other than to act as an SPV for PepsiCo business, now this requirement is deleted in the revised EBA.

Varun Beverages is a key player in the beverage industry and one of the largest franchisees of PepsiCo in the world (outside the USA). As of this date, VBL has been granted franchises for various PepsiCo products across 26 states and 6 union territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia, Zimbabwe, South Africa, Le...