US/JAPAN: Sapporo Holdings to control Silver Springs Citrus
Sapporo Holdings to take 51% stake in Silver Springs Citrus
Sapporo Holdings has agreed to acquire control of Silver Springs Citrus, one of the largest private-label producers of premium fruit juices in the US.
Sapporo said today (7 February) that it has agreed to buy a 51% stake in Silver Springs from Toyota Tsusho America for US$24m. The Japanese brewer is keen to move into non-alcoholic drinks in the US to complement strong growth for the Sapporo beer brand in the country.
"This stock purchase provides Sapporo with a base for its beverage businesses in North America," the group said. It said that it will work with Toyota Tsusho to expand the unit, which is the largest private-label producer of non-alcoholic chilled beverages in the US.
In its most recent fiscal year, to the end of September, Silver Springs reported a 3% drop in net sales, to US$118m. The Florida-based group has 227 employees.
For the company announcement, click here.
Asahi Group has confirmed that it has signed two joint ventures with an Indonesian company to market and distribute non-alcoholic drinks in the country....
- Comment - Heineken's 'No' Cuts SABMiller Options
- Irish whiskey eyes a slice of Scotch's global pie
- Scottish Independence and Scotch Whisky
- SABMiller spurned by Heineken: The start of the en
- Can the New World Learn a Lesson from the Old?
- Patron Spirits' Patron Citrónge Lime
- Heineken rejects SABMiller purchase proposal
- Wm Grant CMO to head Orangina Scweppes Int'l
- Diageo's Special Releases 2014
- SABMiller, Heineken silent on takeover offer talk