Carlsberg to retain strategy post-full ownership of Indian ops, eyes accelerated investment
Carlsberg global chief executive officer Jacob Aarup-Andersen said the Danish brewer does not need a new strategy for the Indian market after it completes the deal to fully own the business in the market growing four times faster compared to the overall beer segment.
Earlier this month, Carlsberg agreed to buy a third of its stake from Khetan group, its joint venture partner, to take full ownership of the India and Nepal operations.
«We do expect to get full control of the business in a couple of months once the process has run its course. It's going to allow us to accelerate investments to capture the long-term opportunities in these markets,» Andersen told investors, adding it was too early for us to start laying out the strategy for India.
«Of course, it is not going to be a dramatic reversal in our approach to India, but it thus means there are a number of levers that we can start pulling over the coming years that we have not been able to.»
Over the past few years, Carlsberg and its partner were engaged in a boardroom battle amid concerns from its auditor over financial irregularities, including incorrect payments, embezzlement and kickbacks from customers. The company, which sells the eponymous brand and Tuborg, is the third largest brewer after United Spirits and Ab InBev and controls about 16% of the 345 million cases beer market. However, its strong beer portfolio, mainly Tuborg, accounts for a significant chunk of its sales.
The company had earlier said after acquiring the stake it could review the
