INDIA: Cobra Beer confirms Indian acquisition aims
Cobra Beer is on the acquisition trail for a brewery in India.
The company's founder, Karan Bilimoria, was cited in reports this week as saying that Cobra is on the brink of securing a facility in the country in the next month. "We are in the process of acquiring a local brewery and the (formalities) should be complete in the next month," Bilimoria told reporters.
When contacted by just-drinks today (11 January), a spokesperson for the company confirmed the comments, but declined to add further detail. "We are certainly looking to increase our capacity in India," the spokesperson said.
Cobra currently has licensing agreements in place with six breweries in India, but does not own any breweries itself, the spokesperson noted. The company also has licensing arrangements in the UK and Poland.
"The Indian beer market recorded growth of 27% last year and is one of the fastest growing in the world," Bilimoria continued. "The domestic market is projected to grow annually at 15% over the next few years and new breweries have to be set up to meet the growing demand.
"By the end of the year, the company hopes to have two breweries operational and in the next three years we will have four breweries in place."
Bilimoria concluded by adding that the company is also planning to construct a greenfield site in either Punjab or Haryana with a capacity of 350,000 hectolitres, which in time would be scaled up to 1m hectolitres. The unit would be operable within a year, he said.
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