Kirin to sell Australian beverage business to Chinese company November 25, 11:14
“Kirin Holdings” announced that it will sell its Australian beverage business, which had been sluggish, to the Chinese dairy giant “China Meng Dairy” for about 45 billion yen next year.
According to the announcement, Kirin Holdings will sell the group company “Lion Beverages” in Australia for the business of soft drinks and milk drinks to the Chinese dairy giant “China Mengyu Milk Industry” for about 45.6 billion yen in the first half of next year. That is.
Kirin acquired the predecessor of `` Lion Beverages '' for 294 billion yen in 2007, but in addition to sluggish sales of soft drinks, the purchase price of milk rose due to droughts In April, the company announced that it would record a loss of ¥ 57.1 billion in the Australian beverage business.
At the end of last month, the company sold its “Lion Beverage” cheese business to a major Canadian dairy product for approximately ¥ 20 billion, and stated that it would make drastic reforms in other businesses.
Kirin plans to focus on Australia's business in areas where growth is expected, such as craft beer.