Asia Pacific Breweries DB Breweries arm buys rest of Sale Street Brewery Co

Asia Pacific Breweries' DB Breweries arm buys rest of Sale Street Brewery Co

Asia Pacific Breweries' subsidiary, DB Breweries Ltd, has acquired the remainder of Sale Street Brewery Co in New Zealand.

DB Breweries has acquired the 40% of Sale Street that it did not already own, from Curdall Investments Ltd. It has paid NZD352,000 (US$280,000) in cash for the remaining stake, it said this week.

Sale Street is a DB investment vehicle for the food and beverages sector in New Zealand. The deal is not expected to have a material impact on Asia Pacific Breweries' (APB) earnings for its current financial year, said APB, which is jointly-owned by Heineken and Fraser & Neave.

Separately, APB announced yesterday (19 May) that it has agreed to acquire Solomon Breweries.