India: Inbrew emerging as leading bidder for Diageo Indian brands
Inbrew Beverages is emerging as the leading bidder for a portfolio of Indian brands being sold by Diageo Plc, Bloomberg reported on March 15, citing people familiar with the matter.
Inbrew, led by Indian entrepreneur Ravi Deol, is poised to beat out rival suitors including several private equity funds, the people said. The assets could fetch about $300 million, the people said, asking not to be identified because the information is private.
Diageo’s Indian arm United Spirits Ltd. has been seeking a buyer for lower-margin brands including Bagpiper whisky, White Mischief vodka and Haywards, one of the people said. Inbrew is negotiating final terms of a deal and could reach an agreement as soon as the coming weeks, according to the people. Talks could still fall apart or another buyer could emerge, the people said.
United Spirits initiated a strategic review of selected brands in February, the company said in an exchange filing on March 16. The review, which is expected to be completed by the end of March, will take into consideration all options to deliver sustainable long-term profitable growth, it added. Representatives for Inbrew didn’t respond to requests for comment.
Shares in United Spirits rose as much as 3% and touched an almost two-week high in early Wednesday, March 16 trading in Mumbai.
Inbrew acquired Molson Coors’s Indian beer business for an undisclosed amount last year, according to local media. The portfolio includes beer brand Thunderbolt and rights to various brands such as Millers, Blue Moon, Carling and Cobra for the Indian market. Inbrew has two breweries in India, according to its website.
Regresar
E-malt.com, la fuente de información global para los profesionales de la industria cervecera y de malteado. Los boletines quincenales de E-malt.com incluyen las últimas noticias de la industria, estadísticas en gráficos y tablas, precios mundiales de cebada y malta, y otra información relevante. Haga clic aquí para obtener acceso completo a E-malt.com. Si usted es un cliente de Castle Malting, puede obtener acceso gratuito al sitio web y publicaciones de E-malt.com. Contáctenos para obtener más información en marketing@castlemalting.com.
