Mount Everest Breweries Expands Reach with Cheers Breweries Acquisition

Mount Everest Breweries Ltd (MEBL) has amplified its presence in South India by acquiring Cheers Breweries in Mysuru, a move marking its entry into Karnataka.

This acquisition forms part of MEBL's ambitious strategy to expand operations to 20 states by the end of the 2026 fiscal year, as the company aims to secure an 8% market share by 2030, according to an official statement.

A strategic investment of Rs 300 crore, financed through internal accruals and structured debt, is set to enhance MEBL's production capacity from 2.0 million to 3.5 million hectolitres, thereby increasing their capacity by nearly 75% and driving significant future revenue growth.

(With inputs from agencies.)