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Japanese brewing giant Kirin Holdings Co. is selling its stake in a beverage venture it formed with China Resources Holdings Co. for 115 billion yen (just shy of US$1 billion) as it shifts its focus to food, health and pharmaceuticals.
The Japanese brewer will gain around 39 billion yen from the sale of its 40% stake to Plateau Consumer Ltd., an investment fund based in the Cayman Islands, it has been announced.
Kirin established the partnership with China Resources Holdings in 2011 with a focus on the bottled-water business under major brand “C’estbon.” But as part of a business portfolio review, Kirin now intends to increase its profit in food and beverages, as well as strengthening its grip in pharmaceuticals and scaling up in the health science domain.
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