Viiking Ventures has acquired Goa Kings beer from Impala Distillery and Brewery for R90 Cr. The brand will be owned by Viiking Ventures while its production will still be done by Impala. It will invest an additional R100 Cr in the next three years for marketing activities. The funds will also be used for expansion of the plant, as the beer can only be manufactured at the current location. The beer will be sold in new markets, beginning with Maharashtra and Telangana, followed by Karnataka and Andhra Pradesh, and later in other states Sachiin Joshi, chairman at Viiking Ventures said, that he is also looking to acquire a vineyard in France or Italy with an investment of $20-40 Mn. “While the brand had domination in Goa, it was selling for itself due to various distribution and marketing issues. So, we decided to acquire the 22-year old boutique brand and make it a mass scale brand.”, he added. The company will officially launch the Goa Kings beer on August 16, it said in a statement.
Source: dealcurry.comJMJ Group’s Viiking Ventures Acquires Goa Kings for R90 Cr
Industry: Other 2015-11-30