Leading liquor firms Kyndal India Ltd and JP Distilleries Ltd Wednesday formed a joint venture -- Terra Inc to market a range of their premium spirits in the Indian market, said a statement here Wednesday.
"The joint venture (50-50) will capitalise on the strengths of both the companies to spur growth of premium spirits in the target market," Kyndal founder Siddarth Banerji said in the statement.
As a leading importers, manufacturer and distributor of premium spirits, Kyndal will spearhead its expansion and distribution plans through Terra in Karnataka, Andhra Pradesh and Delhi markets initially and across the country eventually.
Kyndal group firm Mojaveh and JP's Hyderabad-based Viva Dholen Spirits are the equity partners in Terra venture.
"The venture will ensure that our products are equally well positioned in the market and reach out to the target audience," JP group director J.P. Sudhakar said in the statement.
In view of the competition from independent marketing and distribution firms, Terra will help Kyndal to widen the market for its range of liquors.
"The venture will distribute and boost sales of our Bols and Bootz brandies and Viva's Round Robin and Copper Pot whisky. More brands will be routed through Terra once its operations have been stabilised," Banerji said.
Kyndal has launched and built brands such as Absolut vodka, Remy Martin Cognac and Jim Beam amongst others in the Indian sub-continent and West Asia.
The city-based JP group operates in the economy segment of alcoholic beverages, including scotch-blended whisky and brandy blended with imported grape spirit.
