Business Opportunities in India
Search
  
Anheuser-Busch acquires remaining stake in Indian joint venture
Our Bureau
Date of posting: 23-06-08
      Leading American brewer Anheuser-Busch, maker of Budweiser and currently itself the target on the acquisition list of global beer leader InBev, has announced to purchase the remaining 50 percent ownership of the Crown Beers India Ltd. joint venture from its partner, Crown International. The acquisition would include the joint venture’s 500,000-hectoliter brewery in the southern city of Hyderabad, Anheuser-Busch said in a releaee, but did not disclose the terms of the deal.

      “The Indian beer industry continues to grow at a rapid pace, and acquiring the remaining 50 percent of the Crown Beers joint venture reaffirms Anheuser-Busch’s commitment to being a key player in this emerging beer market,” said Tom Santel, president and chief executive officer, Anheuser-Busch International, Inc. “As Crown International looks to focus on its other successful businesses, this move will continue to best position the Budweiser brand for long-term growth in India", Santel explained the retreat of Crown.

      Crown International and Anheuser-Busch formed Crown Beers India Ltd. in early 2007. The joint venture successfully introduced the world-famous Budweiser brand and Armstrong throughout southern and western India. Armstrong is a premium strong beer which was developed specifically for the Indian beer market.

      For Anheuser-Busch, India has “tremendous long-term potential”, despite the fact that the country ranks currently low among the world beer markets. In the last time, the country has witnessed a compounded annual growth rate of 12 percent and overall consumer consumption continues to grow at more than 20 percent annually, Anheuser-Busch describes the positive Indian trend.

Other Mergers & Acquisitions News

Other Beverages News

Other Beer News

Other INDIA News

Other Anheuser-Busch News

Your comments here:
Full name:
Email address:
Company/Organisation (optional) :
Country (optional) :
Phone no. (optional) :
Your comments: