U.S.-based alcoholic beverage company Sazerac announced that it has closed on its two-part purchase of a minority stake in Indian liquor maker John Distilleries Pvt Ltd. (JDPL).

Under the deal, Sazerac has increased its overall holding to 43 percent stake after purchasing 23 percent stake that Indian investment firm Gaja Capital still held in John Distilleries at a $143.1 million valuation.

From 2011 to 2013, Gaja Capital invested about $10.7 million in John Distilleries and made a return via the exit.

In fiscal year 2018, JDPL generated over $429 million in gross revenue.