JAPAN/NZ: Asahi Group completes Independent Liquor Group buy
Asahi Group closes Independent Liquor Group deal
Asahi Group has completed the takeover of one of Australia and New Zealand's leading RTD alcoholic beverage firms, Flavoured Beverages Group Holdings, which trades as Independent Liquor Group.
Asahi said today (3 October) that it has completed its deal to acquire Independent Liquor Group for NZD1.53bn (JPY98.2bn, US$1.19bn). The closure comes less than two months after the Japanese brewer announced it had agreed a deal with Independent Liquor's private equity owners, Unitas Capital and Pacific Equity Partners.
The acquisition will bolster Asahi's presence in Australia and New Zealand's RTD alcoholic beverages market. It will also give the group extra scale in the two countries, where it already owns Schweppes and is in the process of acquiring Australia-based P&N Beverages.
Although based in New Zealand, Independent Liquor has one plant in Australia and one in New Zealand, with a broad sales network across both countries, Asahi said. The Japanese group has created a subsidiary in New Zealand, Asahi Liquor New Zealand, in order to buy Independent Liquor's shares.
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