Molson Coors Expands in Fast Growing Indian Beer Market
Molson Coors Brewing Company has acquired Mount Shivalik Breweries and its entire brand portfolio, including the leading strong beer brand, Thunderbolt, and has assumed direct control over brewing operations in Haryana and Punjab, as well as distribution for Thunderbolt in Bihar. Terms of the transaction were not disclosed and all required regulatory approvals have been received. This transaction builds on an existing contract brewing and distribution partnership between the two companies that was initiated in early 2013.
“We are very pleased to be deepening our partnership with Mount Shivalik, which has always been based on shared values and business ambitions,” says Kandy Anand, President and CEO of Molson Coors India. “We are also very excited about the increased momentum the addition of Thunderbolt will bring to Molson Coors brand portfolio as we build our business in India, the world’s fastest growing beer market.
Molson Coors entered India in June 2011, when the company purchased a controlling stake of Cobra India, thereby creating the joint venture Molson Coors Cobra India. Molson Coors Cobra maintains one brewery in Bihar, where it has secured a strong share position through the strength of its brand portfolio led by Iceberg 9000, King Cobra, Royal Brew and now ThunderBolt.
