Miadiamante Foods picks majority stake in beer firm

While Miadiamante has purchased a majority stake, founder Bist will continue to own a minority stake and invest efforts in growing the business further

Nasik based Miadiamante Foods & Beverages has picked up a majority stake in Pune based microbrewery company, Independence Brewing Company (IBC), one of the largest and oldest microbreweries in India.

Promoted by Krishen Lal Khanna and Anirudh Khanna,Miadiamante has acquired a majority stake in IBC from Indus Brew LLC, a US-based entity. Co-founded by Shailendra Bist, majority of the stake in IBC was previously owned by Indus Brew LLC, Greg Koch and Avanish Vellanki.

While Miadiamante has purchased a majority stake, founder Bist will continue to own a minority stake and invest efforts in growing the business further. IBC is widely present across Mumbai and Pune through its outlets and beer distribution business and its revenues were at around $2 million in FY19-20.