Japan’s major beer manufacturer, Kirin Holdings is set to invest US$30 million in New Delhi-based B9 Beverages Pvt Ltd, as the former seeks to secure a spot in India’s rapidly growing craft beer market.
The Japanese brewer will acquire a 10% stake in B9 which is the producer of India’s popular craft beer Bira. Earlier, B9 had been negotiating with international brewers to sell up to 20% stake of the company as part of its plan to shore up its financial position amidst challenges posed by the pandemic. The investment will allow Bira to expedite its plan to launch its products in Japan this year.
An unidentified source estimated the Indian brewer to be worth US$300 million. Bira claims to have 5-10% share of the beer market in major cities like New Delhi, Mumbai and Bengaluru.
In recent years, Kirin has shown interest in acquiring stakes in smaller independent breweries globally. However, in Myanmar, Kirin has come under scrutiny as its local partner was suspected to have strong connections with the military (refer to Company News).