Exclusive: India’s B9 Beverages, maker of popular craft beer Bira, is in talks with international brewers and investors to sell a stake of up to 20% in the company, its chief executive told Reuters by adityakalra ASenjourno & ritsukoandos
NEW DELHI/BENGALURU/TOKYO - India’s B9 Beverages, maker of popular craft beer Bira, is in talks with international brewers and investors to sell a stake of up to 20% in the company, its chief executive told Reuters on Tuesday.
“We’ve been talking to beer companies that are not competitive in India or have minimal operations in India.” A Kirin spokesman said there was “absolutely no discussion at the moment” on taking a stake in Bira. Last week Kirin cut its full-year profit outlook due to the COVID-19 impact and said it would avoid “non-essential” investments.
Kirin has in the past shown interest in independent breweries and owns a minority stake in New York’s Brooklyn Brewery. “Bira is really struggling financially at the moment and they badly need a lifeline. A deal with Kirin or any of the other global strategic companies would give them that,” said one of the Indian industry sources.
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