Allied Blenders and Distillers drops plan to acquire 51% stake in Good Barrel Distillery

Home-grown AlchoBev firm Allied Blenders and Distillers Limited on Thursday (August 14) said it has decided not to proceed with its planned acquisition of up to 51% stake in Good Barrel Distillery Private Limited.

The company had earlier, on January 29, 2025, announced that its board had approved the acquisition with an option to buy the entire paid-up share capital, and had authorised the execution of definitive agreements and other relevant transaction documents.

"...we wish to inform you that as part of the due diligence process, certain commercial considerations emerged, which required renegotiation of specific terms. Despite best efforts, the parties could not reach mutually acceptable terms and hence the Board has decided not to proceed with the proposed acquisition," according to a stock exchange filing.

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However, during the due diligence process, certain commercial considerations arose, requiring renegotiation of specific terms. Despite efforts, the parties were unable to reach mutually acceptable terms, prompting the board to withdraw from the proposed transaction.

The company stated that it will continue to explore both organic and inorganic growth opportunities. It added that the withdrawal will have no material or financial impact, as the transaction was still at a preliminary stage.

Shares of Allied Blenders and Distillers Ltd ended at ₹491.60, down by ₹2.00, or 0.41%, on the BSE.

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