Varun Beverages (VBL) informed stock exchanges on Wednesday that its subsidiary, Varun Beverages (Zimbabwe), has entered into an exclusive distribution agreement with Mondelez South Africa Proprietary. The agreement covers the distribution of Mondelez’s chocolate, biscuit, candy and gum products across Zimbabwe.
Mondelez-Varun Beverages distribution deal
The company said the deal was signed on Wednesday and will take effect from October 1, 2026. It gives the Zimbabwe subsidiary exclusive rights to distribute the confectionery products in the country.
In the disclosure table filed with exchanges, VBL classified the new line of business under the confectionery segment. The company said the expected benefit is leveraging its existing snacks distribution network through an expanded product portfolio.
On the investment required, VBL said no capital expenditure is envisaged at this stage. The company said it intends to use its existing distribution infrastructure to service the agreement.
Varun Beverages COO Manmohan Rupal Paul resigns
In a separate filing on the same day, VBL also informed exchanges that Manmohan Rupal Paul, Chief Operating Officer and a Senior Management Personnel of the company, has resigned. The company said he was relieved of his duties with effect from September 24, 2026, his last working day.
Paul’s resignation letter, dated August 29, 2026, was addressed to Varun Jaipuria, Executive Vice Chairman and Whole Time Director. In it, Paul said his decision followed discussions with Jaipuria and Rajeshwar Tripathi, without citing a specific reason. VBL did not name a successor to the role in its filing.
About Varun Beverages
Varun Beverages is one of the largest franchisees of PepsiCo in the world outside the United States. Incorporated in 1995 as a subsidiary of RJ Corp, the company manufactures, bottles and distributes carbonated and non-carbonated beverages, including Pepsi, 7Up, Mountain Dew, Mirinda, Tropicana, Gatorade, Sting and Aquafina.
Its operations span 27 states and 7 union territories in India, along with international markets such as Nepal, Sri Lanka, Morocco, Zambia, Zimbabwe, South Africa and several other African nations.
Varun Beverages share price today
Varun Beverages’ share price has increased 0.16% intraday on September 25. The company’s share price decreased 1.22% in the past month. Furthermore, Varun Beverages’ share price decreased 4.14% in the last year.