New Delhi: Sequoia Capital-Backed beera 91 on Wednesday said it will buy beverage chain operator The Beer Cafe at an undisclosed price, giving the Indian craft beer maker access to more restaurants and pubs as dining out has become a favorite option again.
started in 2015, beera is one of India’s most popular craft beer makers and is backed by Kirin Holdings of Japan and Sofina of Belgium. It competes with international brands such as Carlsberg, as well as with Heineken-owned and United Breweries.
The deal comes during the festive season in the South Asian country, with more and more people stepping out to socialize and dine after the pandemic forced them to largely stay indoors for nearly two years.
The companies said in a statement that Beer Cafe Chief Executive Officer Rahul Singh will lead the operations of the brand.
“We’re Making Some New Private-Label Beers beera breweries,” Singh told Reuters, as well as the deal beera Was an all-stock deal.
Singh declined to comment further on the financial situation.
The Beer Cafe, which sells 50 brands across 33 outlets across 15 cities, will continue to serve different global brands of beer, the statement said.
chatting with kirin beera To triple its investment in Bear Marker, sources told Reuters last month. Sources said the company is ready to pump in additional funds at an equity valuation of $450 million. , Reuters