Japanese food and drink group Kirin Holdings has shuffled its management pack as the company looks to push on with plans to drive earnings. Kirin, which owns Australia’s Dairy Farmers and National Foods, said today (10 February) that executive vice president Senji Miyake would become president and CEO from next month. Current CEO Kazuyasu Kato will become Kirin’s chairman. The promotion of Miyake is the latest move from Kirin to establish “a leading company” in food and health... ...Read more »
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 »
Suntory, the owner of Frucor and one of Japan’s larger brewers, is still considering the option of a merger with Kirin Holdings - which would create a food and beverage firm of an equivalent size to PepsiCo. Analysts believe such a merger will give them the ability to take price leadership in their stagnant home market, while also allowing them to speed up their overseas expansion plans - which have largely centred on Australia to date. “If a merger is realized, that would give them the... ...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 »
Coca-Cola Amatil (CCA) Chief Executive Terry Davis has said the price offered to Lion Nathan shareholders solidifies their view that last year’s offer by Lion undervalued their worth.The offer for the remaining Lion Nathan shares made by Kirin at the start of the week represented a price to earnings ratio of around 13.8, comfortably above the 10.5 offered for CCA by Lion in a bid backed by Kirin last November. “What has happened is that the very high multiples paid for Lion Nathan validates... ...Read more »
Groupe Danone has successfully completed the sale of its drinks subsidiary Frucor, based in New Zealand and Australia, to Japanese-based Suntory. The deal had been struck in October for an amount of over €600 million in cash (around A$1.2b) after a bidding battle began in September, with Coca-Cola Amatil and Fraser & Naeve reportedly among the unsuccessful bidders.”This divestment stems from Danone’s recent refocus on natural mineral water and spring water based beverages and will... ...Read more »
Japanese-based Suntory Limited has signed an agreement with Danone Asia Pty Ltd, a subsidiary of Groupe Danone, to purchase their beverage business Frucor. The sale was completed for an amount of over €600 million (about A$1.2b). Danone announced a review of Frucor, their Australian and New Zealand-based beverage business, in August as they continued to refocus on becoming a health and wellness company. They began the bidding process in September with a number of suitors reportedly keen... ...Read more »