Molson Coors Brewing Company announced that its wholly owned subsidiary, Coors Brewing Company d/b/a Molson Coors International (MCI), has acquired Mount Shivalik Breweries Ltd. (MSBL). As part of the transaction, MCI acquired MSBL's entire brand portfolio, including the leading strong beer brand, Thunderbolt, and assumes direct control over brewing operations in Haryana and Punjab, as well as distribution for Thunderbolt in Bihar. Terms of the transaction were not disclosed and all required regulatory approvals have been received. The entity will continue to be called Mount Shivalik Breweries for a period of time.

This transaction builds on an existing contract brewing and distribution partnership between the two companies that was initiated in early 2013.

"We are very pleased to be deepening our partnership with Mount Shivalik, which has always been based on shared values and business ambitions," said Kandy Anand, President and CEO of MCI. "The Bali family has run a very successful business over the last 40 years powered by a strong brand portfolio and dedicated employees. This transaction allows us to build an even stronger foundation on which to expand that proud tradition. With our combined resources, brewing expertise, brand portfolio and a focus on quality and innovation, we are confident that MSBL's reputation for delighting India's beer drinkers will only grow going forward."

Anand continued, "With the added brewing capacity, increased distribution channels, as well as the passion and skill of MSBL employees, we believe the strategic benefits of this transaction are abundant and clear. We are also very excited about the increased momentum the addition of Thunderbolt will bring to Molson Coors brand portfolio as we build our business in India, the world's fastest growing beer market.