CMJ Breweries, north-east India’s largest brewery and contract partner to brands such as Kingfisher, Carlsberg and Tuborg, now become a subsidiary of Asgard Alcobev
Asgard Alcobev, formerly known as Banganga Paper Industries, has acquired a 78.90 per cent stake in CMJ Breweries, assuming control of the north-east India–based beer manufacturer. The majority stake was obtained through a Share Purchase and Share Subscription Agreement, including a preferential allotment of equity shares to non-promoter shareholders of CMJ Breweries. With the transaction now complete, CMJ Breweries has become a subsidiary of Asgard Alcobev.
Established in 2007 and headquartered in Shillong, Meghalaya, CMJ Breweries is considered the largest brewery in north-east India. The company is exclusively engaged in beer production and operates as a franchise and contract brewing partner for leading domestic and international brands, including Kingfisher (United Breweries), Carlsberg and Tuborg (Carlsberg India), as well as Asia 72 from Mohan Meakin, among others.
The acquisition is part of Asgard Alcobev’s long-term diversification strategy focused on sustainable value creation and the development of a multi-business portfolio. By entering the alcoholic beverages segment through a controlling stake in CMJ Breweries, the company seeks to strengthen its operational base and expand its footprint in the high-growth north-eastern market.
Earlier this year, in January, the company rebranded itself from Banganga Paper Industries to Asgard Alcobev to reflect its strategic pivot towards alcoholic beverages. It also shifted its registered office from Nashik, Maharashtra, to Shillong, Meghalaya.
