News

AUS: ACCC approves Asahi's P&N Beverages buy

Most popular

The just-drinks analyst returns

Heineken must cut costs to aid recovery - analysis

How COVID has accelerated the sobriety trend

Interview - Treasury CEO Mike Clarke - Part II

The just-drinks analyst returns

MORE

The Australian Competition and Consumer Commission (ACCC) has said it will not oppose Asahi Group's fresh bid to acquire P&N Beverages. 

//i4.progressivedigitalmedia.com/1/asahi-pn.jpg

Last month, Asahi entered into a fresh agreement to purchase P&N Beverages, in a JPY16.3bn (US$202m) deal that was revised to satisfy Australia's competition watchdog.

The ACCC had earlier raised concerns that the acquisition would remove P&N as "a vigorous and effective competitor" in carbonated soft drinks and cordial.

As a result, Asahi agreed to sell P&N's CSD and cordial businesses to Tru Blu Beverages (TBB), which will result in Asahi acquiring only the water and juice businesses of P&N.

The ACCC's chairman, Rod Sims, said today (12 August): "Taking into account the divestiture and that it will occur simultaneously with the acquisition of P&N, the ACCC is satisfied that the proposed acquisition is unlikely to substantially lessen competition."

As part of the deal, Asahi must divest all manufacturing facilities, production equipment, brands, personnel, intellectual property rights and other assets related to P&N's cordial and CSD business. Asahi must also transfer certain production lines from its existing Schweppes subsidiary to TBB, as well as provide interim contract packing services to TBB.

The ACCC said that TBB needs to be "an ongoing viable and effective independent competitor" in the CSD and cordial markets.

Asahi expects to complete the P&N deal in September.


Related Content

Will Asahi's 1,000-person virtual bar be a success? - analysis

Will Asahi's 1,000-person virtual bar be a success? - analysis...

"Company leaders really need to take a battlefield approach" - just-drinks speaks to Ross Colbert, K...

"Zero-based budgeting hasn't been successful in building brands" - just-drinks speaks to Ross Colber...

Campari Group and Cuervo - The next big spirits buy? - analysis

Campari Group and Cuervo - The next big spirits buy? - analysis...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?