Unlikely to break Asia Pacific Breweries bank

Unlikely to break Asia Pacific Breweries' bank

Asia Pacific Breweries has acquired a 75% stake in Rock Ember Ltd, an investment vehicle for food and beverages outlets in New Zealand.

In a filing to the Singapore stock exchange today (21 June), the company, a joint venture between Heineken and Fraser & Neave, said that it made the purchase through New Zealand subsidiary Barworks Group Ltd.

The unit acquired the stake from CHC Trustees Ltd for a nominal NZD150 (US$107).

The remaining 25% of Rock Ember will be held by a third party, RockEmber Catchpole Investments Ltd.

Barworks Group is a wholly-owned subsidiary of DB Breweries, which in turn is a wholly-owned subsidiary of APB.

In April last year, APB completed the purchase of food and beverage outlet Gaults on Quay in New Zealand.