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SINGAPORE/NZ: Asia Pacific Breweries buys rest of Sale Street Brewery

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Asia Pacific Breweries' subsidiary, DB Breweries Ltd, has acquired the remainder of Sale Street Brewery Co in New Zealand.

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DB Breweries has acquired the 40% of Sale Street that it did not already own, from Curdall Investments Ltd. It has paid NZD352,000 (US$280,000) in cash for the remaining stake, it said this week.

Sale Street is a DB investment vehicle for the food and beverages sector in New Zealand. The deal is not expected to have a material impact on Asia Pacific Breweries' (APB) earnings for its current financial year, said APB, which is jointly-owned by Heineken and Fraser & Neave.

Separately, APB announced yesterday (19 May) that it has agreed to acquire Solomon Breweries.


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