Belgian AB InBev to go solo, exits JV with RJ Corp
17 Feb 2015 12:27 AM GMT
Belgian brewing giant, Anheuser Busch InBev plans to go solo in India through Crown Beers India Ltd, its wholly-owned entity, after exiting the joint venture with RJ Corp.
The company would focus on Indian market and consolidate its position in the country through additional brand investment and capacity expansion, AB InBev said in a statement. "This comes on the back of a strategic decision by AB InBev to further grow its business in India through additional brand investment and capacity expansion,” it said.
However, the company has not disclosed the terms and conditions of the agreement on which it is exiting to form JV. It added that its current staff and operations would be transferred to Crown Beers India after the completion of the transaction. RJ Corp Chairman Ravi Jaipuria said, “AB InBev and RJ Corp have had a successful partnership with Budweiser in India.”
The company would focus on Indian market and consolidate its position in the country through additional brand investment and capacity expansion, AB InBev said in a statement. "This comes on the back of a strategic decision by AB InBev to further grow its business in India through additional brand investment and capacity expansion,” it said.
However, the company has not disclosed the terms and conditions of the agreement on which it is exiting to form JV. It added that its current staff and operations would be transferred to Crown Beers India after the completion of the transaction. RJ Corp Chairman Ravi Jaipuria said, “AB InBev and RJ Corp have had a successful partnership with Budweiser in India.”
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