To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
REUTERS/Minwoo Park Asahi’s new super dry draft canned beers are seen at a convenience store in Seoul, South Korea, May 12, 2023.
Reuters
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.
