JAPAN/US: Sapporo eyes US beer brand - report
Sapporo on the acquisition trail
Japanese brewer Sapporo is looking for a premium beer brand in the US as part of a plan to expand sales overseas, according to a report.
The company wants to acquire a premium beer in the US, as well as build a market share of more than 10% in Vietnam, the head of the group's international operations, Yoshiyuki Mochida, said in an interview with Reuters yesterday (13 July).
All Japanese brewers have medium-term plans to expand overseas in order to reduce their reliance on a shrinking domestic beer market.
Mochida said that sales of Sapporo beer were growing 20% year-on-year in the US, where the group operates a wholly owned subsidiary.
Late last year, Sapporo said it would enter the Vietnamese beer market by taking a 65% stake in Kronenbourg Vietnam for nearly US$25.4m.
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