Japan’s beer maker Kirin Holdings will invest 210 Crores in New Delhi-based B9 Beverages, as it seeks to secure a spot in India’s growing craft beer market amid falling sales at home. The Japanese brewer will acquire a stake of under 10% in B9.
As per Ankur Jain, CEO of Bira, this investment would allow Bira, which has posted losses in recent years and has been hit by the COVID-19 pandemic, to break even in the 2021-2022 fiscal year.
We at UnlistedZone are iu view that this is the timely investment which has come to the rescue of Bira, as hotel and restaurant industry, the largest seller for bira beer, was the most hit sector due to COVID-19. This funding will allow Bira to carry out operations without having to worry about the cash flow problem. Plus they will get the support and expertise of Japanese beer maker in expanding operations in India.
If we go by this deal, the Bira is valued approximately 2200 Crores. In 2019, Bira had raised 30 Cr from Sixth Sense Ventures, at a reported valuation of 1722 Crores.