Delhi-based B9 Beverages gets $ 30m funding from Japan beer maker

New Delhi-based B9 Beverages that brews craft beer under the Bira brand, it has got a funding of $30 million from Japanese beer maker Kirin Holding. People familiar with the matter said Kirin will acquire a stake of under 10 per cent and have a board representation. The company is also said to be planning a non-alcoholic beverages segment with carbonated drinks, juices, energy and sports drinks and sparkling water to offset the fall in revenue from beer sales.

Kirin Holdings will reportedly invest $30 million in B9 Beverages as the Japanese brewer wants to tap into India’s growing craft beer market.

B9 had been in talks with international brewers including Kirin and other investors to sell a stake of up to 20 per cent in the company.

Acccording to Bira, it has a 5-10 per cent share of the beer market in cities such as New Delhi, Mumbai and Bengaluru. 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.

Shares of Kirin have soared 27 per cent over the past three months and are now up more than 9 per cent in the past year.