Viiking Ventures, part of actor-producer Sachiin Joshi's JMJ Group, has acquired Goa-based beer brand Kings Beer from Impala Distillery and Brewery for Rs 90 crore, reported ET.
“While the brand had domination in Goa, it was selling for itself due to various distributions and marketing issues. So, we decided to acquire the 22-year old boutique brand and make it a mass scale brand,” shared Joshi.
According to the news the brand will be owned by the company while its production will be done by Impala.
Post the acquisition, the brand has also been launched in Mumbai.
"We are creating our own brand and will get it produced by the existing manufacturing outlets in the market rather than manufacturing it ourselves," added Joshi.
The group is also targeting to acquire a vineyard in France or Italy with an investment of $20-40 million.
Viiking Ventures, founded in 2012, has presence in sectors like FMCG, hospitality, entertainment, realty, infrastructure, paper products and philanthropic activities.
The group, has launched Wyndham Hotel Group-owned Planet Hollywood hotel in India last year, the second in the world after Planet Hollywood in Las Vegas.