United Breweries completes acquisition of brewery assets of Pacific Spirits

United Breweries completes acquisition of brewery assets of Pacific Spirits

Sep 05,2014   10:07 Hrs IST

United Breweries has concluded the acquisition of the brewery assets viz., land, building, plant, machinery etc. of Pacific Spirits, located at Shahjahanpur, district Alwar, Rajasthan at a negotiated consideration of Rs 105 crore. The company has taken this step pursuant to completion of various formalities with regard to endorsement of statutory licenses in the name of United Breweries. With this acquisition, the company will be able to expand its production capacity in the state of Rajasthan to cater to the expected further growth in the market. Pacific Spirits has not been operational for a while and the company will further invest to make the brewery operational before the coming season. This acquisition will also create additional employment opportunities in the vicinity, upon the brewery becoming operational. United Breweries is maker of Kingfisher beer and Heineken beer in India. Kingfisher is largest selling beer in India that commands 29% of market share. The company has presence in 52 countries.