Viiking Ventures, part of actor-producer Sachiin Joshi’s JMJ Group, which manufacturers, XXX Energy Drink and XXX Vodka Mix has acquired Goa-based beer brand Kings Beer. Kings Beer of Impala Distillery and Brewery was acquired for Rs 90 crore. Apart from introducing more variations and changing the brand name, the Viiking group aims to launch the brand pan-India. Branding for the popular beer will also undergo change; it will now be called Goa Kings beer.
While the original shape of the beer bottle will be maintained the colour of the will change from the original black to purple. It will invest an additional Rs. 100 Cr in the next three years for marketing activities. The funds will also be used for expansion of the plant, as the beer can only be manufactured at the current location. The beer will be sold in new markets, beginning with Maharashtra and Telangana, followed by Karnataka and Andhra Pradesh. It will be sold later in other states.
Viiking Ventures, founded in 2012, has presence in sectors like FMCG, hospitality, entertainment, realty, infrastructure, paper products and philanthropic activities and aviation. They will rebrand the beer as Goa Kings beer and launch it on 16 August with a new label. The group has launched Wyndham Hotel Group-owned Planet Hollywood hotel in India last year, the second in the world after Planet Hollywood in Las Vegas. While the brand had domination in Goa, it was selling on its own due to various distribution and marketing issues. This made Viiking to acquire the 22-year old boutique brand and make it a mass scale brand.
The brand will be owned by the company while its production will still be done by Impala. Post the acquisition, the brand has also been launched in Mumbai. Viiking already has its own vodka brand and is also working on launching a wine and scotch brand. They are creating their own brand and will get it produced by the existing manufacturing outlets in the market. They are also looking to acquire a vineyard in France or Italy with an investment of $20-40 million.