Mount Everest Breweries Ltd. (MEBL), an entity of the esteemed Associated Kedia Group, has acquired Cheers Breweries Ltd., a facility with an annual production capacity of 1.5 million hectoliters in Mysuru.
Funding & Investment
The acquisition has been funded through internal accruals and structured debt with a total investment of around INR 300 crore covering acquisition, capex, and working capital.
Entering South India
With this acquisition, the company entered South India’s Karnataka as its 12th state of operations. This development supports MEBL’s goal of expanding to 20 states by the end of FY26, with a long-term goal of achieving an 8% national market share by 2030.
Revenue Projections
This strategic move is expected to add INR 350-400 crore in incremental revenue by FY28, contributing to a 15-18% topline growth for MEBL over the next 3-4 years.
A Strategic Milestone
Vedant Kedia, Whole Time Director at MEBL, said, “Karnataka represents the future of India’s beer culture, and our entry into the state marks both a strategic and symbolic milestone.”
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