Tuesday, 9th August 2011
In Business In Japan,
Japanese drinks company to buy New Zealand firm
Asahi Group Holdings, the Japanese company behind the popular 'super dry' beer of the same name, is set to put in a bid to acquire a New Zealand-based drinks firm.
The Japanese drinks company have reportedly put forward a bid of 100 billion yen (£791 million) for Independent Liquor, the company behind the distribution of drinks such as Calsberg, Tuborg and Kingfisher beers as well as spirits such as Whyte and MacKay scotch and Vladivar vodka.
Tetsuro Ii, chief executive of Commons Asset Management, noted that the acquisition - and others like it might be down in part due to the recent natural disasters that hit the country.
"Especially after the big earthquake and tsunami, executives realise it is quite difficult to grow only in Japan," he said.
"More and more Japanese companies accelerate mergers and acquisitions. The strong yen also pushes [mergers and acquisitions]."
Asahi Group Holdings is Japan's largest brewer by volume. It makes or distributes Tsing-Tao in the area, as well as its eponymous drink.
Written by Kimberley Homer