DNA - Ravi Jaipuria, an Indian billionaire businessman and chairman of Varun Beverages, is set to acquire a 50 per cent stake in Sri Lanka's Everest Industrial Lanka (Private) Limited (EIL) for a consideration of USD 3.75 million or Rs 3.20 crore, ET reported. His company stated in an exchange filing, “EIL, a company in Sri Lanka, is engaged in the business of production, manufacturing, distribution, and selling of commercial visi-coolers and related accessories."

Varun Beverages is one of PepsiCo's biggest bottlers outside the US. The company has a market cap of Rs 1.62 lakh crore as of May 20. This strategic move is expected to enhance Varun Beverages’ supply chain capabilities and expand its footprint in the South Asian market. This way, Ravi Jaipuria continues to expand his business empire. Ravi is considered India's cola king. His Varun Beverages is named after his son, who also works in the company, which has entered new segments like dairy, sports drinks and fruit juices. 

The 70-year-old has a real-time net worth of 13.8 billion, as of May 20, as per Forbes. He is India's richest man in the food and beverage sector, as per Forbes's real-time billionaire list. Ravi hails from a Marwari family and also chairs RJ Corp, under which he manages Devyani International and Varun Beverages. His Devyani International, which is named after his daughter, operates KFC, Pizza Hut and Costa Coffee stores.

He studied business management in the US and returned to India in 1985. Ravi joined the family business as a bottler for Pepsi-Cola. In 1987, he got a bottling plant as his share after a family division. Later, he switched to PepsiCo. The Indian billionaire also holds a minority stake in Medanta, a healthcare firm and the hotel chain Lemon Tree.