Nestlé SA said on Friday it had agreed to sell its China water business to Tsingtao Brewery Group as part of a strategic cooperation agreement with the Chinese beer maker. The transaction comprises of the transfer of...
Japan’s Asahi to sell $1.5 billion in shares to help pay for Australia beer unit
Japanese beverage maker Asahi Group Holdings said on Tuesday it would raise up to $1.5 billion in a share offering to help repay loans taken out to buy a beer company in Australia. The company said it would sell up to...
Kirin, China Mengniu give up on sale deal for Australia’s Lion-Dairy
Kirin Holdings Co and China Mengniu Dairy Co said on Tuesday they have given up on the sale of the Japanese company’s wholly-owned Australian dairy firm Lion-Dairy and Drinks Pty Ltd to the Chinese company. The...
Diageo incurred loss of 2 mn pounds on sale of India wine business
World’s leading spirits maker Diageo incurred a loss of 2 million pounds on sale of its Indian wine business last year, the company’s annual report has said. Diageo-owned liquor firm United Spirits Ltd (USL)...
New Zealand’s a2 Milk offers $252 million for majority stake in Mataura Valley Milk
New Zealand’s a2 Milk Co Ltd said on Friday it had offered to buy a 75.1% stake in dairy products maker Mataura Valley Milk from China Animal Husbandry Group in a NZ$385 million ($252 million) deal. The offer follows...
Australia to reject China-backed company’s offer to buy dairy firm: media
Australia will not approve China Mengniu Dairy Co’s proposed buyout of some of Australia’s best-known milk brands from Japan’s Kirin Holdings Co Ltd, the Australian Financial Review reported on Thursday. Australia...
Diageo to buy Ryan Reynolds-backed Aviation Gin as it moves upmarket
Diageo is paying up to $610 million for Aviation American Gin, co-owned by Hollywood actor Ryan Reynolds, and a clutch of other spirits brands, adding to a gin portfolio which already includes Tanqueray and Gordon’s...
Bira in talks with foreign investors for up to 20% stake sale
India’s B9 Beverages, maker of popular craft beer Bira, is in talks with international brewers and investors to sell a stake of up to 20% in the company, its chief executive officer (CEO) told Reuters on Tuesday. “We’ve...
Brazil approves Seara’s takeover of Bunge’s mayo, margarine business
Brazil’s antitrust regulator approved the takeover of Bunge’s local mayonnaise and margarine business by Seara, part of Brazilian meatpacker JBS SA, according to the government’s official gazette on Tuesday. The deal...
Vietnam to sell remaining 36% stake in largest brewer Sabeco
Vietnam’s government will sell its remaining 36% stake in the country’s largest brewer Sabeco SAB.HM by the end of this year, according to a government document released this week. Vietnam has been seeking to speed up...
InVivo Wine in exclusive talks to take control of Vinadeis
InVivo Wine has entered into exclusive talks with shareholders of Vinadeis to take control of the wine group based in southern France, in a bid to increase its international reach, it said on Wednesday. The takeover...
Cargill to partner with Indian firm for chocolate plant
US food major Cargill is partnering with a manufacturer in India to launch its first chocolate manufacturing operation in Asia. It is expected to begin operating by mid 2021 and will manufacture chocolate compounds...
