Bira 91 raises $25 mn to expand manufacturing footprint

Bira 91 raises $25 mn to expand manufacturing footprint

The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement.

B9 Beverages Ltd, Bira 91’s parent company, on Wednesday said it is raising $25 million in new funding from Tiger Pacific Capital, an Asia-focused fund headquartered in New York and Hong Kong.

The new investment is part of a $50 million round raised by the company, with participation from its existing investor, Kirin Holdings of Japan, and Tiger Pacific Capital from New York, it said in a statement.

“As Bira 91 takes next steps to drive growth across markets and strengthen its supply chain, this new partnership will strengthen the company’s balance sheet considerably,” said Ankur Jain, Founder and CEO, Bira 91.

With this capital, “we will expand our manufacturing footprint to new regions, including Uttar Pradesh,” he added.

The company has six large-scale manufacturing plants in the country.

Source: Telangana Today

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