Beer giant Carlsberg is making rapid moves in India. The Copenhagen-based brewer is set to acquire 60% stake in Parag Breweries located near Kolkata. The target brewery, which is still under development, will have an initial capacity to produce around 1.5-2 lakh cases of beer monthly, sources said.
Carlsberg, through its local arm South Asia Breweries, is picking up stake in Parag as well as its holding entity Agnes Impex, both of whom will be merged subsequently. Carlsberg will hold about 60% stake post consolidation. The acquisition cost will be roughly Rs 32 crore, sources added. When contacted, the promoter of Parag Breweries Parag Mitra said, “I am surprised by the news your are breaking to me.”
This acquisition would be Carlsberg’s second in India in the last 12 months. Earlier, it acquired Himneel Breweries in Himachal Pradesh from its creditors IFCI and Dena Bank for roughly Rs 36 crore. Carlsberg, makers of the eponymous global beer, is also setting up two greenfield breweries at Alwar in Rajasthan and at Aurangabad in Maharashtra with an investment of Rs 85 core.
(Source: Economic Times)
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