India: SABMiller will invest US$125 million over next 2-3 years
SABMiller is to inject additional US$125 million investments in its Indian beer businesses after it successfully acquired Foster’s local business, Indian Zee News reported November 26.
"We will invest US$125 million in our existing operations in India in the next two to three years. With the buy-out of Fosters in India, the total investment will touch US$250 million," SABMiller Chief Executive Graham Mackay said on the sidelines of India Economic Summit.
He said the investment of US$125 million would be for marketing efforts and expanding breweries. The company has nine breweries in India.
"Beer has huge potential to contribute to India's development," he said, adding that unification of markets would become a big boost.
Different laws on liquor in different states are inhibiting the growth of the Indian beer industry, which is 1/70th of the size of China.
SABMiller is the second largest brewer in India and its brand portfolio includes Royal Challenge, Haywards 5000, Castle and the recently launched Haywards Black, India's first stout beer. It is gradually improving its market share and coming close to the leader United Breweries.
Globally, SABMiller had revenues of US$15.3 billion in 2005-06.
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