Kirin Holdings to Obtain U.S. Craft Beer Firm

Economy

Tokyo, Nov. 20 (Jiji Press)--Kirin Holdings Co. <2503> said Wednesday it will acquire a U.S. producer of craft beer through an overseas subsidiary.

Kirin is set to acquire all of the outstanding shares of New Belgium Brewing Co., based in Colorado, in January-March 2020. The acquisition price has not been disclosed.

The takeover is aimed at bolstering Kirin's sales of craft beer products in the United States by utilizing the sales network of the U.S. company.

New Belgium has factories in Colorado and North Carolina, with around 700 employees in total. It offers 40 or more kinds of beer products, mainly in the United States.

Kirin is seeking to strengthen its operations related to craft beer, which is gaining popularity among young people.

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Jiji Press