Anheuser Busch Companies (BUD)

[FUNMAN]

AB InBev, IHCL partner to launch chain of microbreweries in key locations


Oct 05, 2019 (9 hours ago) | ANI


https://www.newkerala.com/news/read/223791/ab-inbev-ihcl-partner-to-launch-chain-of-microbreweries-in-key-locations.html


Mumbai , Oct 4 : Leading brewer Anheuser Busch InBev (AB InBev) has signed an agreement with Indian Hotels Company Ltd (IHCL) to launch a premium chain of microbreweries within its marquee hotels across key locations in India.


The collaboration is worth Rs 150 crore with plans to open 15 microbreweries over the next five years. The exclusive partnership will leverage the collective strengths of both companies to shape the future of quality craft beer in the country.


"We are delighted to partner with IHCL with its portfolio of exceptional hotels to open speciality microbreweries across top urban cities of India," said Jan Craps, Executive Director and CEO of Budweiser Asia Pacific and President of AB InBev Asia Pacific.


"The microbreweries will be conceptualized by ZX Ventures, our global innovation and investment team that will bring in their global brewing expertise to develop the current ecosystem and delight our consumers with local ingredients in beer," he said in a statement.


JOI Design from Hamburg will design all the microbreweries.


Puneet Chhatwal, IHCL's Managing Director and Chief Executive Officer, said the partnership exclusive to IHCL will be a first of its kind in the Indian hospitality industry.


"With its diverse collection of over 500 beer brands, AB InBev will be involved in setting up on-site microbreweries at some of our iconic hotels, the first of which will be at Taj MG Road in Bengaluru followed by Goa, Mumbai and Hyderabad," he said.


IHCL operates 181 hotels including 30 under development globally across four continents, 12 countries and in over 80 locations. It owns brands like Taj, SeleQtions, Vivanta, The Gateway, Ginger, Expressions and TajSATS.


AB InBev has a portfolio of over 500 beer brands and reported revenue of 54.6 billion dollars in 2018.