Cobra Beer set to ink three bottling deals

BANGALORE: The UK-based Cobra Beer is set to ink three new bottling deals with independent brewers in India, even as its founder Lord Karan Billimoria unveiled plans to bolster the management act with the induction of a professional CEO and top-level executives drawn from rival beer companies.

On Monday (July 17), Cobra announced securing £27.5m investments through a combination of loan and equity placement, “The company is attracting a valuation of £100m (following the investments). Part of the fund raised will be utilised for expanding in India.

We will shortly announce three more contract brewing deals,” Mr Billimoria told ET from London. Currently, Cobra Beer is locally brewed in Mount Shivalik’s Behror brewery in Rajasthan, and is looking to scale up its eponymous flagship beer brand’s action in the growing Indian beer market.

Earlier, the company officials said the company has set an ambitious target of selling a million cases in the domestic market in FY06.

Mr Billimoria, who has been the chief executive, also said he could indict a new CEO and move on to the role of an executive chairman. “The move is aimed at bolstering the management and I will remain active in the role of executive chairman,” he added.

Cobra has been inducting professionals in marketing and sales functions from rival brewers like Budweiser and Tiger. The beer company is also set to launch a higher alcohol content strong beer mostly under King Cobra brand. Its portfolio also include premium lager, low-calorie and non-alcoholic beers under the umbrella brand.