M&A

M&A

Mount Everest Breweries acquires Cheers Breweries in Rs.300-Cr deal

Business Standard   Mount Everest Breweries Limited (MEBL)  

Indore-based Mount Everest Breweries Limited (MEBL) has acquired Mysuru-based breweries company Cheers Breweries, marking its entry into the southern market. The acquisition represents a total investment of around INR 300 crore, covering acquisition, capital expenditure and working capital. The deal is funded through internal accruals and structured debt.The deal includes the acquisition of Cheers Breweries Ltd in Mysuru, a facility with an annual capacity of 1.5 million hectolitres. The deal is projected to generate INR 350-400 crore in incremental revenue by FY28, driving 15-18 per cent topline growth for MEBL over the next three to four years.MEBL’s strategy will align to develop four major brewery hubs across India, reducing dependence on its central and northern plants and enabling faster market access across the southern region. Prior to the latest deal, MEBL had a capacity of 3.5 million hectolitres.