Sunday, April 21, 2024

Bira 91 raises $25 mn to expand manufacturing footprint


Share post:


Shillong, March 6: B9 Beverages Ltd, Bira 91’s parent company, on Wednesday said it is raising $25 million in new funding from Tiger Pacific Capital, an Asia-focused fund headquartered in New York and Hong Kong.

The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement.

“As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company’s balance sheet considerably,” said Ankur Jain, Founder and CEO, Bira 91.

With this capital, “we will expand our manufacturing footprint to new regions, including Uttar Pradesh,” he added.

The company has six large-scale manufacturing plants in the country.

Bira 91 is now the fourth largest beer company in India, behind only multinationals like Heineken, AB-Inbev and Carlsberg, and has experienced strong double-digit growth since its inception 9 years ago.

The company also owns the country’s largest beer-focused pub chain, The Beer Cafe.

“We are excited to partner with emerging companies in India, especially brands like Bira 91 with a unique understanding of the new Indian consumer, and a strong local manufacturing footprint,” said Run Ye, Founder of Tiger Pacific Capital.

Founded in 2015, B9 Beverages is backed by leading investors including Japan’s leading beer company, Kirin Holdings, Japan’s largest bank, MUFG Bank, Sofina of Belgium, and Peak XV Partners (formerly Sequoia India). (IANS)


Related articles

Fire breaks out at Maharashtra BJP office in Mumbai; no casualties

Shillong, April 21: A major fire broke out on Sunday at the Maharashtra BJP office here in Nariman...

Aayush says why ‘Ruslaan’ will set industry precedent: ‘Producers don’t need big budgets’

Shillong, April 21: Aayush Sharma, who is all geared up for his upcoming action entertainer 'Ruslaan' shared that...

April futures expiry to increase volatility, keep markets under pressure

Shillong, April 21: Markets in the week gone by were driven by fear, war-mongering and panic. Of course,...

Russia warns of banning Pakistani rice again after contaminant found

Shillong, April 21: Russia has warned Pakistan of banning rice imports from the country again after detecting the...