NeoMile Capital to raise INR 100 Cr for British Brewing Company
Mumbai, May, 14, 2019 – NeoMile Capital, a Mumbai based Financial services firm, today announced its successful collaboration with British Brewing Company (BBC), a premium English lounge bar to spearhead INR 100 Crore fund raising.
British Brewing Company to use funds to accelerate growth plans and expand its footprint in Bangalore, Delhi NCR, Hyderabad, Nagpur, Pune and Jaipur.
British Brewing Company plans to establish over 30 new outlets & a Micro-Brewery over the next 18 – 24 months
"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" said Mr. Murli Ramkrishnan, Group CEO, NeoMile Capital.
Commenting on the F&B space in India, Mr. Murli Ramkrishnan, Group CEO NeoMile Capital 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.
Mr. Ajit Dhumal, Founder, British Brewing Company (BBC) said, "We are pleased to announce the collaboration with NeoMile Capital at a time when India's F&B space is witnessing transformation with the emergence of the modern retail formats. Over the years of operation, we have witnessed that our unique offerings and design have been able to recreate and promote the best of English craftmanship, arts and culture, delivering an excellent experience to consumers. Today we own 7 outlets and expect to add 6 more outlets and a centralized Micro Brewery by the end of this financial year. Our aim is to add 30 new outlets with over 500 distribution points for BBC's craft beer by the end of 2022."
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