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Cobra Beer Will Invest 4.5 Million Pounds In India

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Cobra Beer has said that the company is planning to invest 4.5 million pounds its Indian business.

Mr. Karan Bilimoria, the founder of Cobra Beer, said Indian beer market had enormous potential.

Cobra Beer went into administration in May with debts of around 70 million pounds owed to suppliers before Mr. Bilimoria sold 50.1 percent of the shares to the North American company Molson Coors for 14 million pounds, it learnt from the Sunday Times report.

Cobra is now under the process of raising fresh finance to complete the purchase of a brewery in India and to develop the brand, the Sunday Times reported.

Cobra’s Indian arm generated retail sales of about five million pounds in the year to March but delivered losses of four million pounds. Turnover is forecast to grow beyond 20 million pounds within four years.

It is also learnt from the Indian sources that in May this year Cobra Beer entered into a joint venture with Molson Coors, the Indian operations of the beer major have been hived off into an independent company.
Also, Cobra Beer had signed an agreement to set up a joint venture company Cobra Beer Partnership Limited that will produce and market the Cobra Beer brand in India.
Cobra Beer India has sales of around 2 million cases and is currently brewed at nine locations such as Mount Shivalik in Rajasthan, Mikal in Orissa, Iceberg in Bihar, SOM in Madhya Pradesh,  Manav Breweries in Uttar Pradesh, Mohan Rocky Springwater Breweries in Maharashtra,  Khodays in Bangalore and two locations in Andhra Pradesh.

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Thursday, December 14, 7:05 pm

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