Kirin Holdings, beer maker of Japan, is planning to invest $30 million in B9 Beverages, the New Delhi-based company informed on Monday. The Japanese company will buy a stake of 10% in the maker of craft beer Bira, B9.
CEO Ankur Jain said – “The companies will be exploring business synergies, the investment would allow Bira to accelerate plans to launch its products in Japan later this year.”
The deal will be closed by the coming few days according to Mr Jain. He also informed that there were talks to sell an additional 10 per cent stake in Bira to investors.
Bira competes with the likes of global beverages giants Anheuser-Busch InBev, Carlsberg and United Breweries, among others. In 2019, the five-year-old, New Delhi-headquartered Bira had commissioned two new breweries–in Andhra Pradesh and Karnataka—in a bid to quadruple production capacity.
Founded in 2015 by Ankur Jain and Sameer Brij Verma, the company now operates four breweries in India and has a presence in 400 cities across 10 nations.
-Ak
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.