SABMiller has announced it has completed the acquisition of the Foster’s beer brand and business in India for $120m (£64m) on a cash-free debt-free basis. As part of the deal, the company will assume ownership of all Foster’s assets in India including the Foster’s brand. The company, which already operates nine breweries in India, will take on a further brewery run by Foster’s in Maharashtra, as part of the deal. Foster’s India currently produces, distributes and supports Foster’s Lager, Amberro Mild and Amberro Strong beer brands in the Indian market. In the year to 30 June, total beer sales were 236,000 hectolitres, with Foster’s lager accounting for 88% of total production and sales compared to 85% during the same period in 2005. The company said it was looking to expand the Foster’s brand in India through the 10 breweries it now owns and seek “significant cost benefits from brewing and distributing the brand locally”. Andre Parker, managing director of SABMiller Africa and Asia, said: “We will look to continue the success of Foster's in India and drive growth in the premium segment in this exciting market. SABMiller India's extensive footprint throughout the country, along with its spectrum of strong local and international brands, provides a compelling growth proposition as the Indian beer market develops.” The move comes as Foster’s continues to sell its international assets to focus more closely on it wine division.