UB acquires ABD for Rs 50 cr

UB acquires ABD for Rs 50 cr
ENS ECONOMIC BUREAU

MUMBAI, NOV 3: United Breweries has taken over Associated Breweries and Distillers, makers of London Pilsner beer for a consideration of Rs 50 crore. The deal was approved today by the Board of Directors of United Breweries Holdings Ltd, a Subsidiary of UB Ltd.

ABD is also the exclusive license holder for the manufacture and sale of San Miguel in India. According to UB officials, the London Pilsner brand, which has a sizeable market share in Mumbai market, will complement UB's flagship brand, Kingfisher.

Says Vijay Mallya, Chairman of UB Group: ``The deal was closed within three weeks of making the offer. This acquisition will UB to acquire a dominant position in the beer industry in the country and in Maharashtra in particular."

Zenia Lawyer, Director of Associated Breweries said: ``We look forward to complementing UB's ambition in the neer industry where we can also play an effective role.''

Over 35 lakh dozens of UB brands were sold last year in the Mumbai-Maharashtra region and with the acquisition of ABD's brands, UB hopes to garner 40 per cent market share of the country's largest selling beer market during the current year.