Lion Nathan has secured a deal to buy J Boag & Son from San Miguel Corporation.

The Australian drinks company confirmed to just-drinks today (8 November) that it will acquire Boag, subject to regulatory approvals, for A$325m (US$302.8m). The transaction is also dependant on Japan-based Kirin Holdings, which holds a 20% stake in San Miguel, purchasing National Foods from San Miguel, also announced today.

Kirin also holds 46% control of Lion Nathan.

Speaking to just-drinks today, a spokesperson for Lion Nathan said that the purchase of the Tasmanian brewer was "bang on our strategy, to play in categories that we are already strong in.

"Boag has a very defined beer proposition, and we (Lion Nathan) account for 42% of the Australian beer market," the spokesperson noted.

The majority of Boag's distribution in Australia is handled by Foster's, which has an agreement with the Tasmanian company that runs until the middle of next year, the spokesperson said. "After the agreement ends, the distribution will revert to ourselves," the spokesperson said. "I'd be speculating if we talked about what happens (with Boag's distribution) between now and then."

Lion Nathan expects to take full control of Boag in January next year.