Japan's beer maker Kirin Holdings is planning to invest $30 mn in New Delhi-based B9 Beverages, as it seeks to secure a spot in India's growing craft beer market amid falling sales at home.
The company would acquire a stake of under 10% in B9, a Kirin spokesman and Bira CEO Ankur Jain told Reuters declining to give further financial details. The investment would allow Bira to break even in the 2022 fiscal year which starts in April 2021 after losses in recent years and the hurtful impact of COVID-19 pandemic.
Bira is one of the smallest players in India's broader beer industry, its craft beer offerings have become increasingly popular in recent years. Bira says it has a 5-10% share of the beer market in cities such as New Delhi, Mumbai and Bengaluru.