Japan’s Asahi Eyes Overseas M&A to Quadruple Sales of Super Dry Beer
17:49 JST, February 26, 2024
TOKYO (Reuters) — Asahi Group Holdings is on the hunt for acquisition targets in the United States and elsewhere to quadruple overseas sales of its flagship Super Dry beer by 2030, its chief executive said.
The beverage giant took a step towards that goal last month when it said it was buying Wisconsin-based Octopi Brewing, which will allow it to manufacture Super Dry in the United States rather than importing the beer from its European factories.
For the time being, the company is looking at M&A opportunities in emerging markets in Africa, Asia and South America, Asahi President Atsushi Katsuki told Reuters, citing an absence of good U.S. targets.
Katsuki acknowledged investor concern that Asahi did not have much of a presence in the United States.
“The U.S. would be the largest market for us in terms of beer and it’s the only growing market among developed countries in terms of population,” he said.
"News Services" POPULAR ARTICLE
-
EU Ratchets up Pressure on TikTok’s New Rewards App over Risks to Kids, Warns of Suspension
-
Japan’s Nikkei Ends 1% Higher after Sharp Fall; Chip-Related Shares Weigh (Update 1)
-
Japan’s Yen Hits 155 Per Dollar, Weakest Since 1990
-
Japan’s Nikkei Stumbles as Yen Gains, Mixed US Peers (Update 1)
-
Strong Solar Storm Hits Earth, Could Disrupt Communications and Produce Northern Lights in US
JN ACCESS RANKING
- Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
- Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
- 70% of Japan Companies to Raise Pay Scales in FY 2024
- 48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal