DENVER and NEW DELHI, India (PRNewswire) — Molson Coors Brewing Company announced Wednesday that its wholly owned subsidiary, Coors Brewing Company d/b/a Molson Coors International (MCI), has acquired Mount Shivalik Breweries Ltd. As part of the transaction, MCI acquired MSBL's entire brand portfolio, including the leading strong beer brand, Thunderbolt, and assumes 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. The entity will continue to be called Mount Shivalik Breweries for a period of time. 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," said Kandy Anand, President and CEO of MCI. "The Bali family has run a very successful business over the last 40 years powered by a strong brand portfolio and dedicated employees. This transaction allows us to build an even stronger foundation on which to expand that proud tradition. With our combined resources, brewing expertise, brand portfolio and a focus on quality and innovation, we are confident that MSBL's reputation for delighting India's beer drinkers will only grow going forward."
Anand continued, "With the added brewing capacity, increased distribution channels, as well as the passion and skill of MSBL employees, we believe the strategic benefits of this transaction are abundant and clear. 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.
Mr. Rajiv Bali, Chairman Emeritus of MSBL, added, "We are fortunate to have a strong partner in Molson Coors, a leading global brewer with a proven track record for building and growing iconic brands around the world. At Mount Shivalik, we are also proud of our reputation for delivering high quality beer brands. Together with Molson Coors, we will have a powerful combination of industry leading brewing expertise, brand reach and operational efficiency that will allow us to grow our brands even further in India."
"We are excited about the opportunities this partnership will bring for Molson Coors India. It is in line with our strategy to grow our regional brand portfolio," said Mr. Ravi Kaza, President Molson Coors Cobra India.
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. In early 2013, Molson Coors Cobra and MSBL entered into a contract brewing and distribution agreement whereby each party would brew and distribute each other's brands in their respective markets. Mount Shivalik Brewing Ltd. maintains brewing operations in Punjab and Haryana with combined brewing capacity of 600K hectolitres and has a strong brand presence across a number of northern states in India, including Punjab, Haryana, Jharkhand, Bengal and UP.
MSBL will be headquartered in Chandigarh and operate as a separate entity from Molson Coors Cobra with a separate governing board. The MSBL leadership team will be led by Ravi Kaza.