Mount Everest Breweries Ltd (MEBL), part of the Associated Kedia Group, has expanded into Karnataka by acquiring Cheers Breweries Ltd in Mysuru. The deal marks MEBL’s 12th state of operations and involves an investment of about INR 300 crore (USD 36 million), financed through internal accruals and structured debt. The funds will cover acquisition costs, capital expenditure, and working capital.
The Cheers facility, with a capacity of 1.5 million hectolitres, lifts MEBL’s total output from 2.0 million to 3.5 million hectolitres, a near 75% increase. The company expects the acquisition to add INR 350–400 crore (USD 42–48 million) in annual revenue by FY28, contributing 15–18% to topline growth over the next three to four years.
The move supports MEBL’s broader plan to establish four regional brewery hubs across India, reducing dependence on its central and northern plants. The Mysuru brewery will supply Karnataka as well as Pondicherry, Goa, Andhra Pradesh, and Kerala by the third quarter of this year. MEBL also targets presence in 20 states by FY26 and aims for an 8% national beer market share by 2030.
Vedant Kedia, Whole Time Director at MEBL, called Karnataka “the future of India’s beer culture,” highlighting Bengaluru’s youthful and experimental consumer base as a key growth driver. He stressed the symbolic value of entering the state and the strong interest already shown by retailers in partnering with the company.
Distribution in Karnataka will roll out in two phases, covering all 71 depots by November. The portfolio will include Mount’s 6000, Lemount, and STOK in 330 ml, 500 ml, and 650 ml bottles, as well as draft beer in 20L kegs for on-trade outlets. Bengaluru’s HoReCa sector, which accounts for around 45% of premium beer sales, will be a central focus.
Founded in Madhya Pradesh, MEBL has built a portfolio that includes STOK, Lemount, Mount’s 6000, and Dabang. With its growing footprint across southern India, the brewer is positioning itself as a pan-India player.
