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.
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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.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
