South African brewing giant SABMiller, which is listed in London and on the JSE, announced on Tuesday that it has completed the acquisition of the Foster’s business and brand in India for $120-million.
SABMiller India will extend Foster’s Lager through its national network of breweries and seek significant cost benefits from brewing and distributing the brand locally. The existing brewery in Maharashtra will provide additional capacity in the state as well as a platform for access to Mumbai.
SABMiller is the second largest brewer in India.
Andre Parker, managing director of SABMiller Africa and Asia, commented: “We will look to continue the success of Foster’s in India and drive growth in the premium segment in this exciting market. SABMiller India’s extensive footprint throughout the country, along with its spectrum of strong local and international brands, provides a compelling growth proposition as the Indian beer market develops.” — I-Net Bridge