United Breweries to merge JV co, arms with itself

BANGALORE: The Vijay Mallya-led beer company United Breweries will merge joint venture firm Millennium Alcobev and other subsidiary companies with itself.

The firm will also create a trust called the UBL Benefit Trust to hold the treasury stock of UB arising out of the merger. Millenium Alcobev is a joint venture between UB and Dutch brewer Heineken. It consists of three operating companies with breweries across Haryana, Maharashtra, Andhra Pradesh and Tamil Nadu.

Together, it accounts for 10% of India’s total brewing capacity, UB said. Millenium manufactures UBL’s brands on a contract basis and its subsidiaries owns regional brands such as Kalyani Black Label and Marco Polo.