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Spanish brewing major Mahou San Miguel plans to invest over 18 million euros (over Rs 120 crore) in the Indian market over the next five years to strengthen its position in the country.
The company's Indian arm Mahou India, the first ever subsidiary of Mahou San Miguel outside Spain, also plans to add brands in the company's product portfolio in the country going ahead.
"Mahou San Miguel will be investing over 18 million euros in India over the next five years," the company said in a statement.
After launching the flagship brand 'Mahou 5 Star' - Mahou India will continue to invest in developing an innovative premium brand portfolio by adding the Mahou Clasica brand to the India portfolio, the company said.
Mahou 5 Star is the first ever Spanish brand to be produced in India.
"This launch represents a further step in our consolidation in the Indian market, which is today a strategic and investment priority for the company due to its high growth potential," Mahou India CEO Erik d'Auchamp said.
The beer, brewed at the company's brewery located in Bhiwadi, Rajasthan, is already available to consumers in different states and is receiving a very good initial acceptance, he added.
Commenting on the Indian market, Mahou San Miguel, International Managing Director, Jonathan Stordy said: "We feel very confident of Mahou's success in India. Already, Mahou is growing at a good pace in several markets across the world including Chile, the UK, Hong Kong and United States."
Considering the initial good results, the company believes in the huge potential of the beer market in India, the one with the highest growth rate worldwide (13 per cent), he added.
Mahou San Miguel markets its brands in over 50 countries.
