Molson Coors expands business in India with purchase of Thunderbolt beer maker Mount Shivalik

IndustriesAssociated Press

Molson Coors Brewing Co., the Denver company behind Coors Light beer, is expanding its presence in India by acquiring Mount Shivalik Breweries Ltd.

Mount Shivalik, founded in India in 1972, makes the Thunderbolt beer brand.

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Terms of the deal were not disclosed.

Kandy Anand, CEO of Molson Coors International, said India is the "fastest-growing" beer market in the world.

"We are also very excited about the increased momentum the addition of Thunderbolt will bring to Molson Coors brand portfolio," said Anand in a written statement.

Molson Coors first started doing business in India in 2011 when it bought a controlling stake in beer seller Cobra India.

Shares of Molson Coors slipped 42 cents to $74.03 in afternoon trading Wednesday.