Asahi to Buy Singapore Vending Machine Operator
Tokyo, Dec. 6 (Jiji Press)--Japanese beverage maker Asahi Group Holdings Ltd. <2502> said Friday it will acquire Singapore vending machine operator Advend Systems Pte. through a foreign subsidiary.
The value of the deal was not revealed.
Asahi aims to expand the sales network for its soft drink products in Southeast Asia.
Advend Systems has the largest share of the vending machine market in Malaysia and ranks third in Singapore. Its vending machines are installed mainly in factories and business offices.
Through the acquisition, Asahi will operate over 10,000 vending machines in the two countries. It hopes to boost sales of its beverage brands such as Calpis sweet lactic drinks.
[Copyright The Jiji Press, Ltd.]