Beer maker Bira 91 acquired UP-registered brewery company Kamakhya Beer & Bottling Private Limited, a subsidiary company of Chhattisgarh Distilleries Private Limited (CDL), in a share swap deal.
CDL is an Indian liquor company that owns brands such as Indian No.1 Magnum Whiskey, Red Indian Rum, and Palm Beach Whiskey. Bira 91 will benefit from the acquisition by increasing its beer production capacity and gaining market share in the country. Despite the pandemic, Bira 91 managed to reduce its loss in the fiscal year 2020-21 (FY21). Bira 91 is reportedly in talks with its existing investor, Japanese beverage firm Kirin Holdings, to raise $70 million in new funding.