INDIA: SAB invests $10m in India beer venture
South African Breweries (SAB), three months after it was granted an approval to set up a holding company in India, is to invest a total of $10m in two Indian breweries, according to local Indian papers.SAB has already bought a sizeable equity in Delhi-based Narang Breweries for $1.8m. It now has plans to acquire a 65% stake in Mumbai-based Associated Breweries for over Rs360m ($8m).SAB is reported to be aiming to produce 1m hectolitres in India within seven years. Its growth strategy in the country will centre on acquiring poorly performing brewing facilities across the country and upgrading them into world class manufacturing outfits, according to Indian sources. This will be done with a view to making India a production base from which to sell into neighbouring Asian markets, the sources said.The company first applied permission to form a joint venture in India with Narang in February 1999. However, clearance was held up for almost a year because of the lack of a clear cut policy for admitting foreign investments into the liquor sector.The proposal was cleared only when SAB reworked it to form a holding company which would subsequently obtain clearance to make downstream investments.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- Chile's winemakers caught out by Brexit "disease"
- The just-drinks Analyst - 2017 forecasts
- What's coming up in beer in 2017? - Comment
- Diageo Australia names new commercial head
- Suntory sends staff to fat camp - report
- Edrington readies Americas, GTR exec switches
- "Beer and weed are complements" - analyst
- High-end Cognac making recovery in China - Pernod
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits
- Global gin insights - market forecasts, product innovation and consumer trends