A-B InBev has confirmed the JV has ended with RJ Corp

A-B InBev has confirmed the JV has ended with RJ Corp

Anheuser-Busch InBev has quit its eight-year-old joint venture in India with RJ Corp to go it alone in the country. 

The Belgium-headquartered firm will instead concentrate its efforts on its Crown Beers India subsidiary in a bid to grow its premium brands, it confirmed today. The brewer said it will look at "additional brand investment and capacity expansion" in India. 

The Budweiser brewer established a JV with RJ Corp in 2007, taking an initial 49% stake. At the time it was described as a "long-term" agreement. 

Ravi Jaipuria, chairman of the RJ Corp - which is also PepsiCo's biggest bottler in India - said today that it had been “a successful partnership” and he wished A-B InBev a “great run ahead”. 

Financial details over the break up of the JV were not disclosed. 

In 2013, A-B InBev's India operations came under the microscope of the US Securities and Exchange Commission and Department of Justice over possible violations of the Foreign Corrupt Practices Act. An A-B InBev spokesperson confirmed today that the investigation is on-going and the company is "co-operating fully".