JSA aids PepsiCo exit

J Sagar Associates

J Sagar Associates (JSA) advised its longstanding client, PepsiCo India Holdings, when the food and beverage giant exited NourishCo Beverages, selling its 50% stake to its joint venture partner, Tata Consumer Products, for an undisclosed amount.

Shardul Amarchand Mangaldas & Co (SAM) advised Tata Consumer Products, which is a listed entity within the Tata group. The deal was announced on 18 May.

The JSA team comprised partner Kartik Jain and senior associate Ayushi Pandey. Jain told India Business Law Journal that the deal had since closed and required no particular approvals.

SAM’s team was led by partners Amit Khansaheb and Vishruta Kaul, and included associate Manu Gupta. Partner Dev Robinson led an IP team that also advised on the deal, which included senior associate Apoorva Murali, and associates Neha Khanduri and Surabhi Bhandari.

In a filing to the stock exchange, Tata Consumer Products said the move was consistent with its “focus on widening its portfolio in the food and beverages space”.