Japanese Kirin sells its Chinese joint venture to an investment fund
Kirin sells its China joint venture to an investment fund, shortly after the Japanese beer and beverage maker decided to pull out of Myanmar, where it owned a beer brewery
The move comes shortly after Kirin decided to pull out of a brewing joint venture in Myanmar.
The sale to Plateau Consumer, a Chinese fund, for 115 billion yen ($994 million) covers Kirin’s entire 40% stake in China Resources Kirin Beverages, Tokyo-based Kirin said in a statement.
The joint venture, established in 2011, had expanded into China, making bottled water and bottled tea, according to Kirin Holdings Co.
Kirin said the move was part of his recent move to review his investment portfolio, including overseas operations, as part of a management plan that extends through 2024.
Kirin is among the top beer brands in Japan, but brewing companies here have expanded into other types of beverages in recent decades. It still has various global operations, including the Four Roses Distillery in the United States and the San Miguel Brewery in the Philippines.
Yuri Kageyama is on Twitter https://twitter.com/yurikageyama