US firm acquires Dera Bassi-based Mount Shivalik Breweries
US-based Molson Coors Brewing Company has acquired Dera Bassi-based Mount Shivalik Breweries, the maker of popular beer brand Thunderbolt, for an undisclosed amount.india Updated: Apr 01, 2015 22:23 IST
US-based Molson Coors Brewing Company has acquired Dera Bassi-based Mount Shivalik Breweries, the maker of popular beer brand Thunderbolt, for an undisclosed amount.
Molson Coors International has acquired controlling stake in the firm. As part of the transaction, Molson Coors assumes direct control over brewing operations of Mount Shivalik Breweries Limited (MSBL) in Punjab and Haryana, as well as distribution for Thunderbolt in Bihar.
“India is the fastest growing market and we want to grow as much as possible. It’s our strategy to establish presence in the country, state by state,” Molson Coors International president and chief executive officer Kandy Anand told PTI.
The acquisition of MSBL will help us expand presence in northern markets, including Punjab and Haryana, he added.
A privately-held form, MSBL hasn’t made its turnover public. It has two breweries -- one in Haryana with a capacity of 0.25 million HL (hectolitres) and the other at Bankarpur, Mohali (Punjab), with a capacity of 0.35 million HL.
In 2010, the company launched canned beer after a can-packing facility with a capacity of 21,000 cans per hour was set up at the Bankarpur brewery.
Rajiv Bali, managing director of MSBL, will continue to be on the board of the company as chairman emeritus.Bali said: “Together with Molson Coors, we will have a powerful combination of industry-leading brewing expertise, brand reach and operational efficiency that will allow us to grow our brands even further in India.”
MSBL will be headquartered in Chandigarh and operate as a separate entity from Molson Coors Cobra with a separate governing board.The MSBL leadership team will be led by Ravi Kaza, the company said.
“We are excited about the opportunities this partnership will bring for Molson Coors India. It is in line with our strategy to grow our regional brand portfolio,” Molson Coors Cobra India president Ravi Kaza said.
First Published: Apr 01, 2015 20:42 IST