Singapore-based Inbrew Holdings Pvt. Ltd on Thursday said it has acquired North American lager producer Molson Coors' Indian beer business for an undisclosed sum.

As part of the acquisition, Inbrew will acquire the popular beer brand Thunderbolt and rights to various iconic brands such as Millers, Miller High Life, Miller Ace, Blue Moon, Carling and Cobra for the Indian market, said a joint statement.

Molson Coors is getting into a long-term brand agreement with Inbrew for its global brands for the Indian market, it added.

Inbrew Holdings, owned by London-based non-resident Indian businessman Ravi Deol through a privately held Ahead Global Holdings, will also acquire manufacturing facilities in India along with the entire business operations, the statement said.

Molson Coors India Private Limited (MCIPL) manufacturing facilities have a combined capacity of over 600 khl (kilo hectolitre) with scope for doubling the capacity. In addition, MCIPL has a brewery in Bihar, which is currently mothballed due to the prohibition policy by the state government.

The total installed capacity of its breweries stands at 16 million unit cases per year.

"Inbrew understands the Indian beverage market and grasps the needs of existing and emerging consumers. A portfolio of strong local and a portfolio of popular international brands supported by established distribution and well-invested manufacturing facilities will allow Inbrew to rapidly expand its offering," its chairman Ravi Deol said.

Molson Coors' EMEA and APAC division President and CEO Simon Cox said: "The sale of the India operation will make us a more streamlined organisation, whilst retaining a platform for our brands in India".

MCIPL is a wholly-owned subsidiary of Coors Brewing USA and its flagship brand Thunderbolt has a dominant share in the strong beer segment in the North Indian states. It owns a 5 per cent market share pan India in the segment, it added.

"This acquisition provides Inbrew a robust platform to build further into an influential player in India's young and rapidly growing beverage market," the statement said.

Deol is known in the food services sector in India. He founded Barista Coffee in late 1999, which was acquired by Tata Beverages in 2005 and was later owned by Lavazza S.p.A. of Italy. He has wide experience and has held senior-level global positions with Coca-Cola and Wipro Consumer Products.

About Inbrew Beverages Pvt. Ltd.

Inbrew Beverages Pvt. Ltd. is a leading producer and distributor of premium spirits and beer in India, known for its commitment to quality and innovation. With a rich heritage in the spirit-making industry, Inbrew Beverages continues to set benchmarks globally, offering a diverse portfolio that caters to discerning consumers.

For more information, please visit: https://www.inbrew.com/

Source: Times of India