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 »

Australia’s second largest brewer has seen their Australian beer division offset headwinds in wine and New Zealand, upon reaffirming guidance for the full year. Lion Nathan, which is likely to be acquired by major shareholder Kirin Holdings later in the year, said that volumes grew 3 per cent in the nine months to the end of June. Their Australian beer sector led the way, with robust volume growth of 5 per cent. The strength of brands XXXX Gold, Tooheys, Hahn Super Dry and Boag’s Draught... ...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 »

The Australian Competition and Consumer Commission has given the green light to Kirin’s purchase of brewer Lion Nathan. The Australian competition watchdog was the final regulatory hurdle that needed to be cleared by the Japanese firm after receiving approval from the Foreign Investment Review Board (FIRB) on June 19. The decision by the ACCC – announced Friday afternoon – came five days earlier than expected. The $3.5 billion takeover still requires the approval of Lion shareholders,... ...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 »

Continued speculation of a multi-billion dollar merger between Australia’s largest alcoholic and non-alcoholic beverage makers has been quashed by Coca-Cola Amatil at their Annual General Meeting today. Terry Davis, CCA’s Chief Executive, told reporters that they were happy to continue pursuing organic growth via their joint venture with SAB Miller – Pacific Beverages. “We’re not concerned how long it takes us to get a bigger presence in the Australian beer market –... ...Read more »

Lion Nathan, the subject of a takeover offer by major shareholder Kirin, has indicated they may sell their wine assets as soon as economic conditions improve. Lion Chief Executive Rob Murray told analysts yesterday that the wine industry was still facing difficulties with a glut, with the economic climate exacerbating the problem. With this in mind the company was not currently considering a sale of the division, which accounts for about 7 per cent of sales. “My view is there is still an opportunity... ...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 »