Anheuser-Busch forms Indian venture |
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Thu, 22 Feb 2007 14:05
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ST. LOUIS (AP) - Anheuser-Busch Cos. and Crown Beers said Thursday they agreed to form a joint venture to sell Budweiser beer and other brands in India.Financial terms were not disclosed. Budweiser will be available in bottles beginning in May 2007.The joint venture will be called Crown Beers India Ltd. and includes a brewery, located in Hyderabad, that will be completed in March.Anheuser-Busch and Crown Beers will both hold 50 percent ownership of the joint venture and collaborate on local management, marketing and sales decisions. The venture is expected to have 150 staffers.'International expansion is a key part of Anheuser-Busch's growth strategy, and while India is a small beer market today, it is growing rapidly and has tremendous long-term potential,' said August A. Busch IV, president and chief executive officer.In addition to brewing, Crown Group operates businesses in India's agriculture industry, through seed production and export businesses. They also have operations in industrial exports and real estate.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Anheuser-Busch confirms Indian joint venture with Crown Group 