Cobra Beer CEO quits in midst of companys sale

Cobra Beer chief executive, Adrian McKeon, has reportedly stepped down in the midst of a planned sale of the UK drinks company.

McKeon joined Cobra in 2007 after having spent two years at Beam Global Spirits & Wine UK as managing director.

There is now mounting speculation that the UK arm of the business, owned by Indian entrepreneur Karan Bilimoria, could be sold to Molson Coors, maker of Carling.

It follows failed negotiations in July last year to sell a stake to Diageo, the world’s biggest spirits producer.

Bilimoria is said to be seeking up to £200m for sale of the drinks company. He announced his decision to sell Cobra Beer late last year.

Despite managing to secure deals with the majority of Indian restaurants in the UK, the company has never recorded an annual profit http://www.marketingweek.co.uk/cgi-bin/item.cgi?id=63571&u=pg_dtl_art_news&m=pg_hdr_art

Since its launch in 1989, the brand has continued to grow. In October, the company reported 37% volume growth and retail sales of £178m.

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