your password has been reset successfully, Please login again.

Kae Capital invests $1 mn in Boutique Spirit Brands

The company sold 50,000 cases across rum and brandy in FY18 and is looking to sell over 2 lakh cases by FY19.
BY BEx Bureau
BusinessEx
Aug 02, 2018

Hard liquor company Boutique Spirit Brands (BSB) which sells rum and brandy under the brand names of Gladius and Zeus respectively in Orissa and Andhra Pradesh has raised about Rs 6.8 crore ($1 million) from from institutional investors like Kae Capital.

BSB closed FY18 with over Rs 18 crore in revenues selling just across two markets and is targetting gross revenues of about Rs 80 crore by FY19 as it also looks to widen its playground and portfolio.

We are now looking to launch a whiskey brand as also expand the sale of rum and brandy to eight and four states respectively. We want to have presence across all categories and hence will look at launching a vodka brand in the long term as well, said Rahul Gagerna, Founder of BSB, formerly the head of marketing at distilleries firm Radico Khaitan.

The company sold 50,000 cases across rum and brandy in FY18 and is looking to sell over 2 lakh cases by FY19.

Given that liquor is a matter of state jurisdictions and the operational complexity in business, we wanted to back a team that has navigated this in the past. The cofounding team has several decades of liquor experience coupled with strong traction of brands such as Gladius and Zeus made a compelling case for us to invest, said Navin Honagudi, Managing Director at Kae Capital.

BSB is also planning to add multiple investors for Rs 14 crore in debt finance to establish considerable retail presence across the hotel and restaurant segment for brand recognition.

Please add your Comment
SIMILAR News
October 19, 2018
With this acquisition, IIFL Wealth will increase its client base, and will expand its portfolio mana ...More
By Vaishnavi Gupta
October 18, 2018
This is the second acquisition of InMobi in 2018, after it bought AerServ in January for $90 million ...More
By Vaishnavi Gupta
October 17, 2018
The Mumbai-based enterprise security company will make the investment through its wholly-owned subsi ...More
By Vaishnavi Gupta
October 16, 2018
This is the second acquisition of DailyNinja in Hyderabad after the acquisition of 4amShop in August ...More
By Vaishnavi Gupta
October 13, 2018
With this acquisition, the Bengaluru-based mobile entertainment services company will expand its bus ...More
By Vaishnavi Gupta
October 12, 2018
As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a ...More
By Vaishnavi Gupta
October 11, 2018
Future Enterprises will pay Rs 20 crores for the stake and Rs 5 crores additionally, if required. ...More
By Vaishnavi Gupta
October 11, 2018
The acquisition will help MobiKwik to strengthen its foothold in the digital financial services sect ...More
By Vaishnavi Gupta
October 10, 2018
The combined entity will be providing a comprehensive solution to convert waste plastic into valuabl ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
October 09, 2018
With the acquisition of Two Roads, Hyatt will expand its brand presence into 23 new markets. ...More
By Vaishnavi Gupta
October 08, 2018
The acquisition marks Mercer's entry into the global talent assessment market. ...More
By Vaishnavi Gupta