Molson Coors Brewing Co. and Cobra India have joined forces to brew and market Cobra beer in South Asia, an arrangement that will give the brewer a foothold in the fast-growing Asian beer market.
Denver-based Molson Coors, whose brands include Coors Light, Molson Canadian and Blue Moon, will invest $35 million in the joint venture, Molson Coors Cobra India, giving it a controlling stake in Cobra India and operational control of the new venture. The deal includes land, a 149,000-barrel brewery in Bihar state, as well as a beer portfolio consisting of Cobra Premium, King Cobra Superior and Iceberg 9000.
“This deal marks the beginning of a long-term commitment to establish Molson Coors in India, the world’s fastest-growing beer market,” said Molson Coors International president Kandy Anand.
Molson Coors said the Indian beer market is estimated to be in the top 10 global beer markets by 2020. Dow Jones Newswires
