Kirin Holdings and Suntory have sought approval from the competition watchdog in Japan for their merger plan despite being yet to announce a final agreement on a deal, according to reports from Japan. The merger would create one of the world’s largest food and beverage companies – ranking in the top five globally, with a major presence here in Australia. Together, Suntory and Kirin would combine to create a powerhouse in the beverage industry in Australia; with Kirin having recently purchased... ...Read more »

Japanese brewer Kirin Holdings has reported a 16 per cent drop in operating profit as the exchange rate hurts their Australian operations and Japanese consumption remains subdued. Despite the drop in profit, the owner of National Foods consolidated Dairy Farmers into their Australian fruit juice and dairy business with better-than-expected results and has now raised their profit expectations for the full year. Kirin said that Lion Nathan, which they are currently seeking to buy (they currently own... ...Read more »

Kirin’s Australian operations will soon be renamed Lion Nathan National Foods Pty Ltd, provided shareholders of brewer Lion Nathan accept their takeover proposal. The Japanese brewer’s plans have been outlined today in the Scheme Booklet released by Lion Nathan. It shows that their large food and beverage operation in Australia – National Foods – will be united with Lion Nathan, while the management team will largely be drawn from Lion. The only part of their Australian operation... ...Read more »

Kirin Holdings is planning to commit to a merger with Suntory in the near future in a bid to become the leading player in the food and beverage sectors in Asia and Oceania, according to a report published today. “We aim to be a leading company in Asia and Oceania,” Kirin Holdings Co. president Kazuyasu Kato told the Nikkei economic daily. “We’ll bolster our business strength and accelerate our expansion in overseas growth markets” by integrating operations with Suntory... ...Read more »

Kirin Holdings has announced that it is discussing the prospect of a $51 billion merger with Suntory that would create the world’s fifth largest food and beverage firm and potentially shake-up the beverage sector in Australia. In their statement to the market yesterday Kirin stressed the Suntory discussions were at an “initial stage”. “Nothing has been resolved or reached an agreement at this stage,” they advised. “Kirin will make immediate announcement once anything... ...Read more »

Food and beverage firms Kirin Holdings and Suntory are reportedly in talks regarding a potential multi-billion dollar merger, which could have ramifications on the beverage landscape in Australia. Nikkei English News, citing unidentified people, said the Japanese companies were hoping to reach an agreement by year’s end, with talks between the leaders of the two companies progressing since the end of 2008. Both companies have recently been looking overseas to diversify their portfolios and... ...Read more »

Japanese brewer Kirin Holdings has received the all clear from the Foreign Investment Review Board for their takeover of Australia’s second largest brewer – Lion Nathan. The $3.5 billion takeover offer was accepted by the Lion Board last month but still requires approval from shareholders and the Australian Consumer and Competition Commission. The ACCC is due to decide on July 1 whether or not Kirin’s expansion in Australia – they have purchased National Foods and Dairy Farmers... ...Read more »

National Foods has announced that Parmalat will purchase some of their fresh milk manufacturing operations in New South Wales and South Australia after the competition watchdog requested divestments from the dairy firm when they purchased Dairy Farmers last year. The deal, which is subject to the approval of the Australian Competition and Consumer Commission (ACCC), will see Parmalat acquire a portfolio of fresh milk assets across the two states, licences to market brands and distribution networks... ...Read more »

Lion Nathan today announced that it had signed an Implementation Agreement with Kirin Holdings for Kirin’s $3.5b takeover. Late last month the Lion Board accepted a $12.22 per share offer by Kirin for the remaining 54 per cent of the company they did not own, with a shareholder vote now required to approve the proposal. The transaction will be implemented via a scheme of arrangement and is subject to a number of conditions, including obtaining all necessary regulatory approvals, no material... ...Read more »

Lion Nathan shares have entered a trading halt this afternoon after the company raised concerns over a possible breach in the confidentiality of talks with major shareholder Kirin Holdings. Australia’s second largest brewer, which last month agreed to Kirin’s $3.5b takeover offer, asked for a trading halt to be placed on their shares “in order to permit confidential discussions to continue between LNN and Kirin Holdings” as they near finalisation of their implementation agreement.... ...Read more »