Molson Coors has offloaded its beer business in India to Singapore-headquartered investment group, Inbrew Holdings, including two breweries and its flagship brand.
With its acquisition of Molson Coors India, Inbrew envisions a new-age beverage platform that fulfils India’s need for innovative, contemporary beverage products.
The deal includes the company’s Bhankharpur and Saha breweries and its flagship Thunderbolt beer brand. Under the terms of the agreement, Inbrew will also receive a licence to produce and distribute brands such as Millers, Millers Lite, Miller Ace, Blue Moon, Carling and Cobra.
“Inbrew understands the Indian beverage market and comprehends the needs of existing and emerging consumers. A portfolio of strong local and international brands supported by established distribution and well-invested manufacturing facilities will allow Inbrew to continue offer quality products,” said Ravi Deol, Inbrew Holdings chairman.
“Molson Coors is a global beer giant and has made significant investment into India over these years. This provides Inbrew an excellent platform to build further into a dominant player in India’s fast-growing beer market,” he added.
The divestment forms part of Molson Coors’ revitalisation plan, which was announced back in October 2019.
“The sale of the India operation will make us a more streamlined organisation, whilst retaining a platform for our brands in India,” said Simon Cox, president and CEO of Molson Coors’ EMEA & APAC division.
“Inbrew is ideally placed to build on the foundations we have laid down in India and maintain our key brand presence in the fast-growing India beer market,” he concluded.
Ravi Deol owns Inbrew Holdings through privately-held Ahead Global Holdings. The companies did not disclose any financial details of the deal.
© FoodBev Media Ltd 2021
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