Viiking Ventures acquires Goa Kings beer for Rs 90 cr

Viiking Ventures, which has interests in hospitality, media and entertainment sectors, among others on Monday announced the acquisition of Goa Kings (formerly known as Kings) beer for Rs 90 crore. Earlier owned by Impala Distillery and Brewery, King's Black Label premium Pilsner beer, was one of the first Pilsner beers manufactured in the country. In a statement issued here, Viiking Ventures' Chairman Sachiin Joshi said that after the acquisition, Impala and Viiking Ventures will form a 20-year partnership under which the beer will be manufactured and bottled by Impala exclusively, while marketing will be handled by Viiking Ventures.

The company will officially launch the Goa Kings beer on August 16, the statement said. As part of its expansion strategy, the beer will be launched in new markets, beginning with Maharashtra and Telangana, followed by Karnataka and Andhra Pradesh, and later in other states, the statement said. At present, available in a 325 ml pint in the mild category, Goa Kings will soon be available in 500 ml and 650 ml cans in mild as well as strong categories, the statement said.