Cobra Beer has announced its first ever brewery acquisition.

The independently-owned company said today (18 January) that it has acquired a controlling stake in India-based Iceberg Industries after buying 76% of the equity from the Katyal family-owned brewery.

Cobra Beer founder and chairman Lord Karan Bilimoria said: "The market is expanding at an incredible rate, and we're delighted to see so many Indian beer-lovers embracing Cobra as the market grows. The purchase of Iceberg will help us take Cobra to a whole new level in India, allowing us to increase and manage our capacity and to really focus considerable effort on the Indian market."

Cobra will have full management control including operations, sales, marketing and brewing of Iceberg, which currently has a manufacturing capacity of 3m cases per year and will cater for Cobra's markets in north and east India.

Cobra Beer chief executive Adrian McKeon added: "The potential for Cobra in India is huge with the beer industry there having grown by 27% in the last fiscal year. We're looking at capturing a 10% share in the Indian beer market by 2012 and in order to achieve this we need to substantially increase our brewing capacity to sustain our growth. The acquisition of Iceberg is an important first step in helping us do this."

Cobra also brews under license in the UK, Poland, Belgium, The Netherlands and five further locations in India.

In the UK, Cobra has plans for a push in the on-trade market. In the last six months Cobra has invested in bringing in new chief executive McKeon from Beam Global Spirits & Wine, while Cobra's founder Karan Bilimoria has moved to the role of chairman.

Cobra has also appointed former PepsiCo marketing chief Will Ghali as marketing director, Koen Cruycke as technical director and Nick Paget has joined from Beam Global as Cobra's commercial director.