Kirin to expand via SMB in Asia

Kirin to expand via SMB in Asia

Kirin Holdings is gearing up to bid for a controlling share of San Miguel Brewery, according to incoming executive vice president Senji Miyake.

Miyake, who takes the Kirin reins later this month, said the Japanese brewer would like to control SMB, in which it currently has a 48% stake.

He has declined to say if Kirin is in talks with San Miguel Corporation (SMC), which owns the remainder of SMB.

“SMB purchased SMB international business from SMC in December 2009, so, SMB and Kirin thinks they will approach the Asian market with SMB international using this channel," JP Morgan analyst Masashi Kaneko told just-drinks.

 “We think it is possible that Kirin will succeed in raising its ratio of the stock holdings from 48.4%.”

Miyake also confirmed that Kirin will continue to look for acquisitions, following its failed merger talks with Suntory Holdings.

Kirin aims to increase sales by 30% in 2010 to JPY3tn (US$33bn).