Mount Everest Breweries enters Karnataka with acquisition of Cheers Breweries

New Delhi, Sep 9 (PTI) Mount Everest Breweries Ltd (MEBL), part of Associated Kedia Group, has entered Karnataka with the acquisition of Mysuru's Cheers Breweries, strengthening its presence in South India.

Karnataka is the 12th state of operations for MEBL, which has a goal of expanding to 20 states by the end of FY26 and having an 8 per cent market share by 2030, according to a statement.

"The expansion includes the acquisition of Cheers Breweries, a facility with an annual production capacity of 1.5 million hectolitres in Mysuru. This strategic move is expected to add Rs 350-400 crore in incremental revenue by FY28, contributing to a 15-18 per cent topline growth for MEBL over the next 3-4 years," it said.

The acquisition of Cheers Breweries Ltd in Mysuru is funded through internal accruals and structured debt with a total investment of around Rs 300 crore covering acquisition, capex, and working capital.

With production commencing in the first week of September, MEBL now scales up its capacity from 2.0 million to 3.5 million hectolitres, marking an increase of nearly 75 per cent. PTI KRH KRH SHW