Kirin Holdings acquires stake in Interfood Shareholding Co

Kirin Holdings acquires stake in Interfood Shareholding Co

Kirin Holdings has further extended its reach beyond Japan's stagnant drinks market by acquiring a majority stake in one of Vietnam's leading soft drinks producers, Interfood Shareholding Co.

Kirin said today (10 March) that it has acquired a 57% stake in Interfood Shareholding (IFS) from Malaysia-based Trade Ocean Holdings. It did not disclose financial details.

"This investment will further bolster Kirin Holding's international integrated beverage group strategy in the Asia and Oceania regions," said Kirin, which, like its Japanese rivals, has sought to reduce reliance on its home market over the last couple of years.

Kirin tipped Vietnam's soft drinks market to continue its rapid growth and said that IFS had net sales equivalent to US$56m in 2009. The Vietnamese group's EBITDA for the year was US$6m. Its biggest categories are RTD tea, fruit juice and so-called Asian speciality drinks, according to Kirin.

In the last two years, Kirin has acquired Lion Nathan in Australia, built up a 15% stake in Fraser & Neave, a 48% stake in San Miguel Brewery and, most recently, secured a 40% stake in a new soft drinks joint-venture with China Resources Enterprise.

To read Kirin's announcement on IFS, click here.