Max Business

The latest business new about Beer giant Carlsbergis making rapid moves in India. The Copenhagen based brewer is set to acquire 60% stake in Parag Breweries located near Kolkata. The target Brewery, which is still under development, will have an initial capacity to produce around 1.5-2 lakh cases of beer monthly, source said. Carlsberg, through its local arm south Asia Breweries, is picking up stake in Parag as well as its holding entity Agnes Impex, both of whom will be merged subsequently. Carlsberg will hold about 60% stake post consolidation.

The acquisition cost will be roughly Rs 32 crore, source added. When contacted the promoter of Parag Breweries Parag Mitra said, “I am surprised by the news you are breaking to me.”

[Source: Economic Times]