Asahi Breweries has said it is to acquire a controlling stake in a soft drink unit of Kanebo Ltd. The price of the transaction is so far undisclosed.

The Japanese brewer intends to acquire a 68% share in Elbee Saitama Co from Kanebo.

Earlier today, the Japanese newspaper Nihon Keizai reported that the acquisition price would be 4-5 billion yen (US$37.69-47.12m). However, this was not confirmed by the company.

Asahi said it was expecting to triple sales of chilled drinks such as teas and fermented lactic drinks to 15 billion yen through the acquisition. The company added that it was aiming for a 10% market share of the chilled drinks market.