Asahi is set to pay NZ$1.5 billion $1.3 billion for New Zealand’s Independent Liquor, a maker of pre-mixed alcoholic drinks, after a competitive auction in which it saw off some of its biggest rivals.
The deal is Asahi’s biggest acquisition to date and comes after a string of recent purchases aimed at increasing its foreign sales to combat sluggish growth at home. In a filing to the Tokyo Stock Exchange, the Japanese brewer said it would buy all of Independent Liquor’s outstanding shares from private equity owners Pacific Equity Partners and Unitas Capital, which both own 43.9%, as well as the remaining stake owned by the widow of Michael...
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