![#](https://e-malt.com/Images/left_top_corner16x200.gif) | E-Malt.com News article: Japan & India: Kirin Holdings purchases additional stake in India’s B9 Beverages![Brewery news](https://e-malt.com/Images/BeerBullet2.gif)
Kirin Holdings, the Japanese beverage group, is investing Rs 205 crore to purchase an additional minority stake in B9 Beverages. B9 Beverages is the maker of craft beer Bira 91 and owner of Beer Cafe, a pub chain. The transaction, which was made through the purchase of fresh shares, will boost the group’s holding in B9 Beverages, Storyboard18 reported on February 19.
Another American investor is also close to investing $25 million for an additional stake, bringing the total fresh investments to $50 million at a pre-money valuation of $600 million.
The company plans to use the funds to expand breweries, increase the global retail presence, and grow Bira 91's Taproom pubs, as per reports.
India's beer market reached Rs. 41,407 crore in 2023 and is predicted to hit sales of Rs. 78,120 crore by 2032. B9 Beverages reported a revenue of Rs. 824 crore for the fiscal year ended March 2023, a 14.6 percent increase from Rs. 719 crore in FY22. B9 Beverages, which was launched in 2015, sells craft, lager, and strong beer across brands such as Bira White, Gold and Boom. It is present in 24 countries and operaties six breweries. Sequoia Capital and Belgium’s Sofina are among its investors.
Over the last 15 months, Kirin Holdings and Japan’s MUFG Bank separately invested $80 million in B9 Beverages. In December 2023, it was reported that B9 Beverages was in talks with investors to raise Rs 400 crore in fresh funding from existing investors as well as new ones, stated a media report.
In October 2022, B9 acquired Beer Cafe chain in an all-stock deal, making it a wholly-owned subsidiary, and brewery company Kamakhya Beer & Bottling in a share-swap deal.
20 February, 2024
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