ANSA McAL Ltd yesterday announced a partnership with Globus Spirits Ltd, a player in India’s alcoholic beverages industry, which will see the Carib brand lead the charge in entering the Indian beer market.
ANSA and Globus Spirits yesterday announced the formation of Globus ANSA Private Ltd (GAPL), which they described as “a dynamic joint venture merging cultures and expertise”.
“This collaboration represents a momentous milestone in our journey, one that will revolutionise the beer industry in India, with the iconic Carib brand proudly leading the charge,” a release stated yesterday.
The formation of the joint venture took effect on April 4, according to a statutory filing posted pursuant to Section 64(1)(b) of the Securities Act, Chapter 83:02, and Rule 693 of the T&T Stock Exchange Rules.
“Each party will hold 50% of the issued and allotted ordinary share capital of GAPL,” the filing stated.
“With a brewing heritage of over 70 years, the Carib brand embodies a legacy of excellence and unwavering commitment to quality. As we sought to expand into the Indian market, it was imperative to find partners who shared our dedication to maintaining the integrity of the Carib brand. Thus, we are honoured to embark on this journey alongside Globus Spirits Ltd,” the release stated.
“This partnership marks the dawn of a new era in the Indian alcoholic beverages industry. Globus ANSA Private Ltd will specialise in the manufacturing and distribution of alcoholic beverages across the Indian subcontinent, leveraging the strengths and expertise of both Globus Spirits and ANSA McAL,” it stated.
Shekhar Swarup, managing director of Globus Spirits Ltd, said: “We are thrilled to join forces with ANSA McAL, a company with an illustrious history and a reputation for excellence in the Caribbean. This joint venture represents a strategic alignment of our shared vision to offer premium quality products to consumers across India. We are confident that the synergy between our organisations will drive innovation and growth in the Indian alcoholic beverages market.”
Anthony N Sabga III, group chief executive officer of ANSA McAL, echoed these sentiments, stating, “ANSA McAL is thrilled to partner with Globus Spirits Ltd in this exciting venture. India presents immense opportunities for expansion, and we are confident that our collaboration will allow us to seize the growing demand for high-quality beverages by captivating palates with our distinctive products. By leveraging our combined resources and expertise, we are poised to deliver unparalleled value to both consumers and stakeholders”.
“The establishment of Globus ANSA Private Ltd underscores the commitment of both Globus Spirits Ltd and ANSA McAL to drive innovation, foster growth, and create lasting value in the Indian alcoholic beverages industry. As the joint venture embarks on this exciting journey, it is poised to redefine the consumer experience and set new benchmarks for excellence. Moreover, with the inclusion of license manufacturing of Carib in India, we solidify our dedication to expanding our global footprint while upholding the legacy of quality that has defined the Carib brand,” it stated.