Mumbai: NeoMile Capital, a Mumbai based Financial services firm, will soon take over the reins of raising capital for British Brewing Company.
The British Brewing Company (BB Co.) is a premium English lounge bar and NeoMile's assignment is to spearhead a Rs 100 crore fund-raising activity.
BB Co. is planning to use the raised funds to accelerate growth plans and expand its footprint in Bangalore, Delhi NCR, Hyderabad, Nagpur, Pune and Jaipur. The outlet has plans to establish over 30 new outlets & a Micro-brewery units over the next 18 – 24 months.
The brewing firm as on date owns seven outlets and aspires to add 6 more outlets and a centralized Micro Brewery by the end of the financial year.
Ajit Dhumal, Founder for BB Co. was quoted in a release as saying that India's F&B (Food and Beverage) space was witnessing transformation with the emergence of modern retail formats. He also said that BB Co's beer was a blend of unique offerings and design that has helped promote the best of English craftmanship, arts, culture and value to consumers. "Our aim is to add 30 new outlets with over 500 distribution points for BBC’s craft beer by the end of 2022,” he said.
Murli Ramkrishnan, Group CEO at NeoMile Capital said that there was trust in the India consumption story.
He said, "we are firm believers in the India consumption story and that’s what our investing and advising portfolio reflects. Partnering with British Brewing Company not only aligns with our business philosophy but goes further to give us a slice of action in the F&B space which has a lot of room for premiumization both in terms of service and product."
Speaking of numbers, Ramkrishnan added, "We expect the F&B space in India to grow at a CAGR of 10% over the next five-years. We believe that factors like rising disposable income, improving demographics, rapid urbanization and evolving mindset of the consumer is creating an attractive market for investors."