Japanese brewer Kirin Holdings Co is to buy Mandalay Brewery of Myanmar for an estimated several hundred million yen in its latest effort to bolster its presence in the Asia-Oceania region, a newspaper said yesterday.
Kirin is to create a local subsidiary to take over the country’s oldest brewery, based in the northern city of Mandalay, from the military-backed Myanmar Economic Holdings, the Nikkei business daily said.
The Myanmar Investment Commission is expected to approve the deal soon, it said.
With the planned purchase, Kirin, which bought local market leader Myanmar Brewery in 2015, would control 90 percent of the country’s beer market.
The Japanese company seeks an edge against foreign rivals such as the Netherlands’ Heineken NV and Denmark’s Carlsberg A/S, in Myanmar, one of the few growing beer markets amid lackluster momentum in global consumption, the Nikkei said.
The latest deal comes after Kirin expanded business acquisitions in the Asia-Oceania region.
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