Lion said its acquisition of Panhead Custom Ales will complete in July

Lion said its acquisition of Panhead Custom Ales will complete in July

Kirin's Lion New Zealand unit has agreed to acquire craft brewer Panhead Custom Ales.

Panhead will operate as a standalone busniess unit within Lion, the company said today. Financial details were not disclosed. 

The brewery will continue to produce beer from its Upper Hutt brewery, under founder Mike Neilson. 

"The chance to have Panhead's future supercharged by a merger with the big boys was too good to pass up," said Neilson. "Lion's backing will help Panhead grow to a point where anyone, anywhere in the country will be able to experience our beer."

Lion New Zealand's managing director Rory Glass said the company had "no interest" in changing Panhead. 

The deal is expected to complete in July. 

Neilson, along with general manager Josh Drake, will be responsible for day-to-day operations. All other roles within the business remain unchanged, Lion said.

Lion has added a number of craft brewers to Kirin's Australian portfolio. The company owns Little Creatures, James Squire, White Rabbit, Kosciusko and Knappstein and last month announced it had bought another craft brand in Australia - Byron Bay Brewing Co.

Earlier this week, Kirin announced plans to open a craft beer venue in Hong Kong for its Australian micro-brewery Little Creatures.