Anheuser-Busch Acquires Remaining 50 Percent Ownership of Joint Venture in India
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23/06/08 Anheuser-Busch, a leading global brewer, will purchase the remaining 50 percent ownership of the Crown Beers India Ltd. joint venture from its partner, Crown International. The acquisition includes the joint venture's 500,000-hectoliter brewery in the southern city of Hyderabad.
"The Indian beer industry continues to grow at a rapid pace, and acquiring the remaining 50 percent of the Crown Beers joint venture reaffirms Anheuser-Busch's commitment to being a key player in this emerging beer market," said Tom Santel, president and chief executive officer, Anheuser-Busch International, Inc. "As Crown International looks to focus on its other successful businesses, this move will continue to best position the Budweiser brand for long-term growth in India."
In addition to Budweiser, Anheuser-Busch will continue brewing and distributing Armstrong, a premium strong beer developed specifically for the Indian beer market.
"As we continue to strengthen Budweiser's sales and distribution throughout the country, the best practices and knowledge Crown International shared with us will be a tremendous asset for Anheuser-Busch's India business moving forward," said Santel.
Crown International and Anheuser-Busch formed Crown Beers India Ltd. in early 2007. The joint venture successfully introduced the world-famous Budweiser brand and Armstrong throughout southern and western India.
"Two years ago, Crown International made the decision to explore the brewing industry and bring a world famous beer to India," said K.V.D. Prasad Rao, chairman of the board, Crown Beers. "After building a state-of-the-art brewery and successfully partnering with Anheuser-Busch to introduce Budweiser to India, it's the right time for us to move on to and focus on our other business interests."
