Japan's Asahi to Buy Beer Business of Fuller's
Tokyo, Jan. 25 (Jiji Press)--Major Japanese food and beverage maker Asahi Group Holdings Ltd. <2502> said Friday that it will acquire the beer and cider businesses of British brewer Fuller, Smith & Turner PLC, or Fuller's, for 250 million pounds.
Asahi aims to complete the acquisition procedures by the end of June. The move is part of the group's efforts to beef up its overseas operations.
The acquisition of the businesses, including London Pride, a premium beer brand of Fuller's, which also operates hotels and pubs, will be carried out through London-based Asahi Europe Ltd., a unit of Asahi Group.
In the year to March 2018, the target businesses generated sales worth some 15 billion yen and an operating profit worth about one billion yen.
By deepening its relations with Fuller's, Asahi Group hopes to expand sales of its flagship Super Dry beer and other products through pubs and hotels run by the British company.
[Copyright The Jiji Press, Ltd.]