India: Viiking Ventures acquires Goa-based King Beer brand

Viiking Ventures, part of actor-producer Sachiin Joshi's JMJ Group, has acquired Goa-based beer brand Kings Beer from Impala Distillery and Brewery for Rs 90 crore, a top company executive was quoted as saying by The Economic Times on August 4.

"While the brand had domination in Goa, it was selling for itself due to various distribution and marketing issues. So, we decided to acquire the 22-year old boutique brand and make it a mass scale brand," said Sachiin Joshi, chairman at Viiking Ventures, adding that the brand will be owned by the company while its production will still be done by Impala. Post the acquisition, the brand has also been launched in Mumbai.

Viiking already has its own vodka brand and is also working on launching a wine and scotch brand. "We are creating our own brand and will get it produced by the existing manufacturing outlets in the market rather than manufacturing it ourselves," Joshi said.

He added that he is also looking to acquire a vineyard in France or Italy with an investment of $20-40 million.

Founded in 2012, Viiking Ventures has presence in sectors like FMCG, hospitality, entertainment, realty, infrastructure, paper products and philanthropic activities.

Last year, the group launched Wyndham Hotel Group-owned Planet Hollywood hotel in India, the second in the world after Planet Hollywood in Las Vegas.

05 August, 2015