Japanese beer maker Kirin to acquire 10% stake in craft beer Bira

Japanese integrated beverage maker Kirin Holdings is investing $30 million in owners of Bira, as it seeks to secure a spot in India's growing craft beer market amid falling sales at home.

Kirin will acquire a 10% stake in the Indian craft beer major B9 Beverages.

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B9 had been in talks with international brewers - including Kirin - and other investors to sell a stake of up to 20% in the company, Reuters reported in August.

“The 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 2022 fiscal year which starts in April 2021,” said Ankur Jain, CEO, B9 Beverages.

According to Jain, the companies will be exploring business synergies. The investment would allow Bira to accelerate plans to launch its products in Japan later this year.

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The deal will be closed in next few days.

Launched in 2015, Bira is one of the largest craft beer player in India and has 5-10% share of the beer market in cities such as New Delhi, Mumbai and Bengaluru.