News: Asia Pacific Breweries in high spirits
(UNI 02/05/2006) Bangalore - Asia Pacific Breweries (APB), 42% owned by Dutch brewer Heineken, has expanded its network to India by acquiring 76 per cent stake in Aurangabad Breweries Limited, owning units in Maharashtra and Goa.
The company, in a release here, said the aggregate investment for the acquisition was approximately $18 million and it would be funded through a combination of internal resources and external borrowings. The investment was the second in South Asia, after its foray into Sri Lanka in September last year.
The acquisition deal entitled APB to increase its stake in the Aurangabad Breweries Limited to 100 per cent by the end of 2008, the release added.
APB Chief Executive Officer Koh Poh Tiong said "In the last 16 years, our focus was mainly on South East Asia, Indo-China, Australia and China. As our breweries in these markets have shown good growth, it is timely that we look beyond our current markets and set our sights on South Asia for our next wave of regionalisation."
The investment in India was part of the strategic move to make a foray into emerging markets to capitalise on the inherent growth potential, besides tapping new market opportunities for its Tiger, Anchor and Baron's strong brew brand of beer, he added.
The company, in a release here, said the aggregate investment for the acquisition was approximately $18 million and it would be funded through a combination of internal resources and external borrowings. The investment was the second in South Asia, after its foray into Sri Lanka in September last year.
The acquisition deal entitled APB to increase its stake in the Aurangabad Breweries Limited to 100 per cent by the end of 2008, the release added.
APB Chief Executive Officer Koh Poh Tiong said "In the last 16 years, our focus was mainly on South East Asia, Indo-China, Australia and China. As our breweries in these markets have shown good growth, it is timely that we look beyond our current markets and set our sights on South Asia for our next wave of regionalisation."
The investment in India was part of the strategic move to make a foray into emerging markets to capitalise on the inherent growth potential, besides tapping new market opportunities for its Tiger, Anchor and Baron's strong brew brand of beer, he added.
posted by InCar Group Press Room at 17:45
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