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Cobra beer up for sale

24 November, 2008
Cobra beer has appointed investment bank Rothschild to find an investor.

Cobra beer has appointed investment bank Rothschild to find an investor.

Entrepreneur Lord Karan Bilimoria, who set up the company 18 years ago, is looking for around 200million ($296.8 million).

A statement from the company said: "Cobra beer is looking at a strategic partnership or a sale in order to achieve the full potential of the business.

Earlier this year, drinks giant Diageo turned down a minority stake.

Accoring to Reuters, Cobra had retail sales of 177.6 million in its last financial year with the beer brand growing sales by 28 percent, but the group has yet to make a profit.

Rothschild is expected to contact potential buyers including Anheuser-Busch InBev, Heineken and Molson Coors.

Cobra was originally brewed to be less gassy in order to accompany Indian food. It has a presence in UK Indian takeaways and pubs and is growing in popularity in India.