Lord Bilimoria plans to sell stake in Cobra Beer

by Kate Pritchard - Monday, 28th July 2008 -

Asian entrepreneur Lord Karan Bilimoria is reportedly considering selling a 30 per cent stake of his Cobra Beer business to the world’s biggest alcoholic drinks firm – Diageo.

Selling off the stake – which could be worth as much as £30m – would bring in fresh capital to expand Cobra’s sales and distribution and develop its image.

So far, Cobra has found it hard to break into the UK pub and bar market, which accounts for just ten per cent of its sales.

Bilimoria, who was raised in a military family, broke into the beer market when he was just 27 years old – with £20,000 of debt.

“I’ve done every single thing in the business,” he says. “I’ve delivered the beer, I’ve done the books, done the marketing, every single thing. It’s a wonderful position to be in.”

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