India: Asia Pacific Breweries Ltd enters into joint venture partnership with Jaipuria Beverages and Food Industries Private Ltd

Asia Pacific Breweries Ltd (APB) has entered into a joint venture (JV) partnership with Jaipuria Beverages and Food Industries Private Ltd. ABP has also acquired 76 percent stake in Aurangabad Breweries (AB), India Business Insight Via Thomson Dialog NewsEdge released October 10.

The JV Company will focus initially on the western markets where plants of AB are situated. The JV Company has commenced a greenfield brewery, Pearl Breweries Pvt Ltd (PBPL) outside Hyderabad. PBPL will have a capacity of 2.5 million hectolitres and will be operational by the end of 2007. APB holds a majority stake of 67 percent in PBPL and has initially invested $15 million in the company. APB’s contribution to the company will be through a combination of internal resources and external borrowings.

The other brands under the offerings of APB include Tiger, Heineken and Anchor.

11 October, 2006