Retail in Asia

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Japan’s Asahi to buy Malaysian soft-drink maker

Continuing to ramp up its presence outside the shrinking Japanese market, Asahi Group Holdings Ltd signed a pact to buy Malaysia’s second biggest soft-drink maker for USD273 million.

The brewer and soft-drink maker said on Thursday it reached an agreement with CI Holdings Bhd. to buy its Permanis Sdn. Bhd., in a transaction is scheduled to be completed around November.

Seeking to become one of the world’s top 10 food-and-beverage companies – it is currently number 13 by revenue – Asahi has set its sights overseas, making use of an mergers and acquisitions war chest expected to total around USD10 billion through fiscal 2015.

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(Source: The Wall Street Journal Online )