India: Mount Everest Breweries enters Karnataka market through acquisition of Cheers Breweries Ltd

Mount Everest Breweries Ltd (MEBL), part of the Associated Kedia Group, has announced its entry into Karnataka through the acquisition of Mysuru-based Cheers Breweries Ltd, Enterpreneur reported on September 10.

This move marks the company's 12th state of operations and comes with an investment of around INR 300 crore funded through internal accruals and structured debt. The outlay covers acquisition, capital expenditure and working capital.

The Cheers facility has an annual production capacity of 1.5 million hectolitres. With production beginning in the first week of September, MEBL's total capacity has expanded from 2.0 million to 3.5 million hectolitres, reflecting a nearly 75 per cent increase.

The company expects the acquisition to generate incremental revenue of INR 350–400 crore by FY28 and contribute to a 15–18 per cent topline growth over the next three to four years.

The expansion forms part of MEBL's plan to establish four key brewery hubs across the country. The Mysuru unit will reduce reliance on plants in central and northern India and ensure faster supply to markets in Karnataka, Pondicherry, Goa, Andhra Pradesh and Kerala by the third quarter of this year.

Vedant Kedia, Whole Time Director at MEBL, said, "Karnataka represents the future of India's beer culture, and our entry into the state marks both a strategic and symbolic milestone. With the Mysuru acquisition, we are scaling up production and cementing our presence in South India. Bengaluru, with its young and experimental consumer base, makes Karnataka a promising hub for us, and retailers have already shown strong interest in partnering with MEBL."

The company plans to execute distribution in two phases across all 71 depots in Karnataka by November. Its portfolio in the state will include Mount's 6000, Lemount and STOK, along with draft beer in kegs for select outlets.

22 September, 2025