Asia Brewers Network

India’s Bira 91 beer gets new USD50m investment

28th February 2024

Kirin and a US financial investor invest in India’s largest craft brewer B9 Beverages

India’s B9 Beverages, founded in 2015, has rapidly established itself as a key player in India’s craft beer market with its flagship brew, Bira 91, and a diverse range of craft, lager, and strong beers. The company also owns and operates Beer Cafe, a popular pub chain in India. According to reports, B9 Beverages has successfully attracted USD25m from Japanese beverage giant Kirin Holdings, and an additional USD25m from an unnamed prominent US financial investor for minority stakes.

B9 Beverages said it plans to allocate the proceeds of the investment in boosting its brewery infrastructure, expanding its global retail footprint and enhancing the presence of Bira91’s Taproom pubs.

The fresh investments are being made through minority share sales at a pre-money valuation of USD600m, according to Altius Investech, an Indian online private equity investment platform, reflecting the robust growth trajectory and market potential of B9 Beverages. According to sources, the additional minority stake will boost Kirin’s current holding in B9 Beverages by about 20%.

Kirin’s participation in B9 Beverages began in January 2021, when it invested USD30m in the craft brewer in exchange for a minority shareholding of less than 10%. In 2022, Kirin increased its investments by injecting a further USD15m and USD70m.

B9 Beverages, founded in 2015 by Indian businessman Ankur Jain, has five breweries across India and sells Bira 91 in at least 18 countries. In addition to Kirin, its major investors include US venture capital firm Sequoia Capital.

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