BPIL Expands Horizons: Dominating the Northeast Beer Market with CMJ Acquisition

Banganga Paper Industries Ltd (BPIL) will acquire a 78.90% equity stake in CMJ Breweries Private Ltd, positioning The company to dominate the Northeast India's beer market. The deal requires approvals and is expected to conclude in two months. BPIL plans a rebrand to ASGARD ALCOBEV LIMITED.

In a strategic leap, Banganga Paper Industries Ltd has decided to acquire a significant equity stake in CMJ Breweries Private Ltd, marking a major move into the booming beer market of Northeast India. At the December 17, 2025 Board meeting, BPIL approved the acquisition of 78.90% of CMJBPL's equity, encompassing around 10.95 million equity shares.

CMJ Breweries, located amidst the picturesque landscapes of Meghalaya, is Northeast India's largest brewery. Renowned for its premium beers, it operates with state-of-the-art German and European machinery, propelling its reputation for quality and efficiency. The brewery is a crucial partner for major brands like United Breweries and Carlsberg India, providing high-volume production while maintaining stringent quality controls.

The Indian beer market, valued at INR 483.10 billion in 2024, is on a growth trajectory, expected to reach INR 1,241.69 billion by 2034. As BPIL awaits shareholder and regulatory approvals, it also plans a company rebrand to ASGARD ALCOBEV LIMITED, aligning with its new strategic direction. Additionally, M/s. BATLIBOI & PUROHIT have been appointed as joint statutory auditors to bolster the company's governance.

(With inputs from agencies.)