Kirin-Suntory merger on track
Suntory seeking 1/3 stake in new giant
The consolidation Japan’s two largest drinks companies, Kirin and Suntory, is taking shape, according to a report out of the country.
Japan’s Daily Yomiuri newspaper reported today that Kirin has agreed to give its suitor a one-third stake in the new giant, which would be one of the world’s largest FMCG companies and Japan’s biggest beer-maker.
A stake of at least 33.4% would give Suntory the power to veto key decisions in the running of the company.
With combined sales of around US$41 million, a Kirin-Suntory combination would be almost triple the size of Asahi, presently Japan’s largest brewer.
As the domestic beer market continues to decline, Japan’s beer-makers are increasingly looking overseas for future opportunities.
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