New Delhi: In tune with its plan to increase its capacity to 20 million cases per annum by 2012, UK-based Cobra Beer is looking for acquiring three more breweries in the current year.

The company has earmarked around $100mn for its expansion plans in India and a major portion of this would be spent on acquisitions.

"In order to achieve the target of 20 million cases in the next four years, we are looking for acquiring three more breweries in India," Cobra Beer Chairman Karan Bilimoria said.

Presently, the company has around nine breweries in the country with the capacity of about five million cases per annum. It has chalked out plans to double the capacity to 10 million cases in the next four years.

However, It is planning to add another 10 million cases through these acquisitions by the end of the year. "Currently, talks are in the advance stage with local brewers for the acquisition and in the next three months, we may be able to complete the whole process," he added.

Although, the company has also prepared the plans for green field plants in case it is not able to acquire these breweries. These acquisitions will be similar to the one it has acquired in Bihar, Billimoria said.

Cobra Beer would also add to its range from the current offerings of two products, King Cobra and normal Cobra.

The company is also going to introduce cane-beer in the next two months and diet and flavoured beer by the end of current year.
Source : PTI