Molson Coors decides to exit from India
Molson Coors, which is one of the leading lager makers of North America, has decided to sell its business in India, which includes Thunderbolt beer brand. Regarding this the process of negotiations with a couple of breweries has begun. The company’s decision to exit India has been quickened by the inconsistency of policy in states such as Bihar and its diminishing sales in India due to the pandemic.
Molson Colors entered the Indian market in 2011 with a joint venture between Molson Coors Brewing Company and Cobra Indian Beer, led by the Founder of Cobra Beer, British-Indian entrepreneur Lord Karan Bilimoria. At one time, Molson Coors enjoyed 50 percent market share in Bihar’s beer market. However, the ban on sale and consumption of alcoholic beverages in Bihar in 2016, threw a spanner in the works.