Kirin Holdings to build on Fraser & Neave stake buy

Kirin Holdings to build on Fraser & Neave stake buy

Kirin Holdings is keen to build quickly on its acquisition of a near-15% stake in Fraser & Neave, according to a report.

Kirin's president, Senji Miyake, was quoted in Japan's Nikkei newspaper this week as saying that the firm will work with Fraser & Neave to develop healthy soft drinks. The Japanese firm also plans to leverage F&N's sales network for its own brands, while potentially also producing some drinks for F&N, Miyake said.

Kirin said last month that it had agreed to pay JPY84.6bn (US$967.8m) for the stake in F&N. The move is part of the firm's plan to expand overseas and follows its takeover of Lion Nathan and acquisition of almost half of San Miguel Brewery in 2009.

Earlier this week, Kirin cut its full-year sales and profits guidance after the brewer reported slips in the first half of 2010.