MUFG Bank invests 10 million dollars in Bira 91
Bira 91, the world’s fastest-growing premium beer company, has raised 10 million dollars from MUFG Bank, Japan's largest bank and one of the world’s largest banks. This investment showcases a strong belief in Bira 91 and its growth potential. The beer brand continues to grow at a rapid pace tripling its market share from pre-covid levels.
The investment comes after the company recently raised 70 million dollars in a Series-D funding round led by Japanese beer company Kirin Holdings. With this investment, Bira 91 will continue to ramp up its production, bolster the supply chain and enhance innovation capabilities. As one of the fastest-growing brands in the world, the company has built a diverse portfolio of award-winning beers and aims to drive the global shift in beer towards more color and flavor.
Commenting on the announcement, Yasuhide Hayashi, executive officer, MUFG Bank, said, “MUFG Bank has consistently invested in the India growth story. The Indian beer market is booming, owing to factors such as changing lifestyle of consumers, a growing preference for alcoholic beverages, and rising brand consciousness regarding imported and premium beers. We are proud to collaborate with Bira 91, the world’s fastest-growing premium beer brand. With this partnership, we are eager to work with the Bira 91 team to further their growth story and enhance their footprint n India as well as across the globe. We are excited to support the company’s Make in India growth story as it expands its manufacturing footprint in the country."
Commenting on the funding, Ankur Jain, chief executive officer, Bira 91, said, “We are truly excited to partner with MUFG Bank. As Japan’s largest bank with an extremely strong footprint, we believe this partnership can help Bira 91 tap into global pools of capital as it continues on its growth journey.”
As the fourth-largest beer company in the country, Bira 91 holds a market share of 5% across key markets in India, tripling its pre-covid numbers. With five manufacturing facilities in the country, Bira 91 holds a combined manufacturing footprint of about 2.5 million hectolitres, along with a strong presence across 550 towns and 18 countries worldwide.