Kirin Holdings infuses Rs570 crore in Bira 91 for additional 10% stake

22 Nov 2022 , 11:06 AM

Kirin Holdings, Japan has increased its stake in B9 Beverages, the maker of Bira 91 beer, from 10% to nearly 20% by investing an additional Rs570 crore in the company, valuing the beer maker at $550-600 million post-fundraise, according to two executives directly aware of the development.

The fundraise comes at a time when beer consumption is rebounding strongly after two years of pandemic-induced stress that resulted in the closure of bars and restaurants, followed by restrictions on bar operating hours and alcohol serving.

Kirin Holdings made a $30 million investment in the Indian beer maker early last year.

B9 Beverages acquired India’s largest alcobev chain, The Beer Cafe, in an all-stock deal last month, making the pub chain a wholly owned subsidiary of the company.

The company will utilise the investment to expand production capacity with two new breweries and strengthen Bira’s market share and drive innovation for craft beers.

As of now, Bira 91 operates five breweries.

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