Dutch brewing giant Heineken announced Thursday it is teaming up with Patron Capital to buy ailing Punch Taverns, hoping it will be able pull profitability from the age-old but struggling British pub tradition.
Heineken is seeking to raise its stake in India's largest brewer, United Breweries Ltd to gain full management control as it bets on the country's growing thirst for beer
Heineken announced the acquisition of a 50 percent shareholding in Lagunitas Brewing Company, the fifth-largest craft brewer in the United States by volume.
Last week, Heineken International consolidated its stake in UBL by picking up over 21 lakh shares of Vijay Mallya-led firm for Rs 179 crore through open market transactions.
USL said that following the completion of this sale, it will "hold no shares in United Breweries and will cease to be a promoter of United Breweries".