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Asahai deal confirmed

This article was originally published in Foodnews

JAPANESE beer and soft drinks major, Asahi Group Holdings, confirmed this week that it is to acquire the Independent Liquor Group as it looks overseas to drive growth. The deal, which includes Independent Liquor in New Zealand and Independent Distillers in Australia, is valued at NZD1.534 billion (USD1.17 billion). Independent Liquor is New Zealand’s leading ready-to-drink cocktail maker and is number three in Australia. It also brews and distributes the Carlsberg, Tuborg and Kingfisher beer brands. Some 90% of the company’s sales are from New Zealand and Australia, but it is looking to expand into the US and China.

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