Carlton & United Breweries purchase the biggest overseas deal for AsahiBusiness | 19 Jul 2019 5:44 pm
The bid for Carlton & United Breweries in Australia is the latest in Asahi’s overseas buying spree as the Japanese market shrinks, Bloomberg reports.
Anheuser-Busch InBev announced today it would sell Australia's Carlton & United Breweries to Japan's Asahi Holdings for 16 billion Australian dollars (US$11.3 billion).
In January, the company announced a US$330 million purchase of the brewing business of Fuller, Smith & Turner Plc in the U.K.
In 2016, it bought Peroni, Grolsch and Pilsner Urquell lagers from Anheuser-Busch and SAB Miller in separate deals worth around US$11 billion.
The deal will give Asahi a major boost in Australia. It is already the company’s second-largest overseas market behind Europe. But its presence there has been overshadowed by Carlton & United and Kirin Holdings Co.’s Lion, which combined account for 90 percent of the market, according to market research firm IBISWorld.