News

NZ: Lion seeks okay for Independent move

Most popular

Pernod Ricard in YTD fiscal-2021 - preview

The just-drinks Analyst returns - Apr '21

The just-drinks Analyst returns - Apr '20

Remy Cointreau in fiscal-2021 - results preview

Heineken throws Q1 surprise - analysis

MORE

Trans-Tasman drinks group Lion Nathan has sought regulatory clearance to buy New Zealand's Independent Liquor.

Lion has approached New Zealand's competition watchdogs for the green light for a bid but insisted it had yet to reach a decision on whether to table an offer. "The application does not amount to a commitment to make an offer for Independent," Lion said today (3 July), adding it did not have "sufficient information" to make a bid.

Analysts have estimated that it would cost A$1.1m (US$818m) to buy Independent Liquor, which appointed UBS to advise it on a potential sale in May. A sale of the privately-owned company has been mooted since the death of its founder, Michael Erceg, in a helicopter crash last November.

Lion is New Zealand's largest brewer and has long stated its desire to move into dark spirits either through brand-building or acquisition. Japan's largest brewer, Kirin, owns a 46% stake in Lion.

UK-based group Halewood International has also been rumoured to be interested in deepening its relationship with Independent. In April, Halewood gained the licences for a number of Independent brands, including Twistees, Mudshake and FX, in Europe, South Africa and Mexico.


Related Content

Kirin set to offload Lion Dairy & Drinks

Kirin set to offload Lion Dairy & Drinks...

In the Spotlight - Lion Nathan, Coca-Cola Amatil

In the Spotlight - Lion Nathan, Coca-Cola Amatil...

Lion not alone in stalking Independent

Lion not alone in stalking Independent...

Lion Nathan ready to put spirit into the mix

Lion Nathan ready to put spirit into the mix...

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?