Mount Everest Breweries Acquires Mysuru’s Cheers Breweries for INR 300 Cr to Strengthen South India Presence

Mount Everest Breweries Ltd. (MEBL), an entity of the esteemed Associated Kedia Group, has acquired Cheers Breweries Ltd., a facility with an annual production capacity of 1.5 million hectolitres in Mysuru.

Further, the acquisition has been funded through internal accruals and structured debt with a total investment of around INR 300 crore covering acquisition, capex, and working capital.

With this acquisition, the company entered South India’s Karnataka as its 12th state of operations. This development supports MEBL’s goal of expanding to 20 states by the end of FY26, with a long-term goal of achieving an 8% national market share by 2030, said the company.

According to the company, this strategic move is expected to add INR 350-400 crore in incremental revenue by FY28, contributing to a 15-18% topline growth for MEBL over the next 3-4 years.

With production commencing in the first week of September, MEBL now scales up its capacity from 2.0 million to 3.5 million hectolitres, marking an increase of nearly 75%. This supports the strategy of building four key brewery hubs across India, and will ensure reduced logistics dependence on central and northern plants to accelerate time-to-market across Karnataka, Pondicherry, Goa, Andhra Pradesh, and Kerala by the end of the third quarter.

Commenting on this milestone, Vedant Kedia, Whole Time Director at MEBL, said, “Karnataka represents the future of India’s beer culture, and our entry into the state marks both a strategic and symbolic milestone. With the Mysuru acquisition, we are scaling up production and cementing our presence in South India. Bengaluru, with its young and experimental consumer base, makes Karnataka a promising hub for us, and retailers have already shown strong interest in partnering with MEBL. Having shaped beer culture in Central India for over two decades, we are now excited to bring that legacy and innovation to Karnataka’s evolving landscape.”

The expansion and distribution strategy will be executed in two phases, aiming to cover all 71 depots in Karnataka by the end of November. Phase 1 will cover 45 depots, followed by 26 more in Phase 2. 

MEBL’s portfolio in Karnataka will include Mount’s 6000, Lemount, and STOK (available across 330 ml, 500 ml, and 650 ml bottles), along with draft beer offerings in 20L Kegs for select on-trade outlets.

Since Bengaluru’s HoReCa sector accounts for nearly 45% of premium beer sales, building partnerships with pubs and bars will be a key part of MEBL’s market entry strategy, said the company.