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New finance to back Cobras expansion in the UK
Cobra will have £1.5m treasure chest for UK initiatives
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| Cobra beer: expansion in the UK and India |
The UK-based Cobra Beer has raised £27.5m in funds to help the company's expansion in both the UK and India.
Cobra is the most widely distributed 5% alcohol by volume premium lager in the Indian restaurant market in the UK and the brand is also available through more than 5,000 supermarkets and off-licences.
Recent brand extensions have included an alcohol-free beer, a lower-calorie beer and King Cobra, an 8% alcohol by volume lager sold in Champagne-style bottles.
The company, founded and headed up by Lord Bilimoria, raised £25m through unsecured loan notes and the remaining £2.5m through a placing of new ordinary share to private and institutional investors.
Around £1.5m will used to finance initiatives in the UK and Indian markets, although Bilimoria has ambitions to turn Cobra into a global beer brand.
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