AUS/NZ: Lion Nathan considers brewery sale
Lion Nathan is mulling the possible sale of one of its breweries in New Zealand.
The trans-Tasman brewer and wine group said today (5 March) that it has received "several expressions of interest" in relation to the sale of its brewery in Newmarket in Auckland.
"The company is entering into further discussions with a small number of parties with a view to fully understanding the opportunities offered by these expressions of interest," the company said.
Lion noted that it is considering the current site's value as well as the cost of any new site and construction expenses should it relocate.
A decision will not be made until May, Lion said, when the company will have concluded the latest phase of its strategic review.
Earlier this year, Lion confirmed its full-year profit guidance after what it described as a solid first quarter. For the three months to 31 December, sales volumes in Australia were up by 3.3% year-on-year, while Q1 performance in New Zealand was described as mixed.
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