APB in JV with Jaipuria to set up brewery in AP

BANGALORE: Asia Pacific Breweries (APB), the Singapore arm of Heineken, has entered into a joint venture with Jaipuria Beverages & Foods to set up a greenfield brewery in Andhra Pradesh.

APB will invest nearly $15m into the JV company, Pearl Breweries, and hold 67% stake in the same, said a company official.

ET first reported about APB’s greenfield brewery plans in association with the Jaipuria group. The brewery will have an initial capacity of 2.5lakh hectolitre, and will be located just outside Hyderabad.

This marks APB’s second investment in India’s fast growing beer market. Earlier, it acquired 76% stake in the Vijay Chougule managed Aurangabad Breweries for $14m. The deal gave APB production footprint in Maharashtra and Goa.