Molson Coors buys India's Mount Shivalik Breweries
Molson Coors is upping its footprint in India
Molson Coors has boosted its footprint in the fast-growing Indian beer market by acquiring Mount Shivalik Breweries (MSBL) for an undisclosed sum.
The completed deal, announced today, will see the brewer's international unit take control of MSBL's entire portfolio, including the Thunderbolt brand. Molson Coors will also take over the firm's brewing operations in Haryana and Punjab, representing a combined capacity of 600,000 hectolitres. It will also handle Thunderbolt's distribution in Bihar.
MSBL, headquartered in Chandigarh, has a "strong" presence in India's northern states, including Punjab, Haryana, Jharkhand, Bengal and UP.
"We are very excited about the increased momentum the addition of Thunderbolt will bring to Molson Coors brand portfolio as we build our business in India, the world’s fastest growing beer market," said Kandy Anand, president & CEO of Molson Coors International.
Molson Coors and MSBL had a pre-existing relationship in India, with a reciprocal contract brewing and distribution agreement in place since early 2013.
Rajiv Bali, MSBL's chairman, who will remain in his role, added: "We will have a powerful combination of industry leading brewing expertise, brand reach and operational efficiency that will allow us to grow our brands even further in India."
Molson Coors first entered India in June 2011, when the company took a controlling stake in Cobra India, leading to the Molson Coors Cobra India JV.
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