Asia Pacific Breweries (APB) has fully acquired DB Breweries after a failed attempt four years ago. The producer of Tiger beer said late last week that the completion of its acquisition of the New Zealand brewer marks the beginning of the next stage of its long-term involvement with DB.

In 2000, APB tried to buy the remaining 41.61% of DB that it did not own. The attempt succeeded only in upping APB's stake to 76.9%. In July of this year, however, APB launched another offer for the remaining 23.1% for NZ9.50 per share - a 20.3% premium over DB's last traded price of NZ$7.90.

APB's stake in DB broke 90% just a month after it launched the offer as other major shareholders accepted the offer. APB proceeded with a compulsory acquisition after the offer closed on 6 September, leading to DB being delisted from the New Zealand Stock Exchange a week later.

The offer values DB - which produces and markets some of New Zealand's best-known beers such as Export Gold and Heineken - at about NZ$479m (US$327.8m).

In a statement, APB chief executive Koh Poh Tiong said: "Over the years, APB has worked closely with the board and management of DB to restructure it into one that is focused on its core competencies - that is, the production and marketing of quality beers.

"This has led to sizeable value creation for the company and its shareholders," he added.

New Zealand is one of the top three best-performing markets for APB.