Blog: Dean BestKirin looks to milk overseas growth

Dean Best | 26 August 2008

The reputation of Kirin Holdings as one of Asia-Pacific's more dynamic food and beverage companies has been enhanced further after it moved a step nearer buying Australia's Dairy Farmers.

Kirin's local unit, National Foods, has agreed a deal with Dairy Farmers following a protracted takeover battle that, at different times, included rival interest from the likes of Fonterra and Parmalat.

The A$910m (US$774m) deal remains subject to approval from Dairy Farmers' farmer-shareholders and chief executive Rob Gordon was keen to point out the benefits that the deal will bring to the co-operative's members.

"The proposal will allow shareholders to reap the rewards of significant sector rationalisation. In turn, this will lead to a stronger and more vibrant dairy industry - one that provides ongoing benefits for suppliers," Gordon said.

For Kirin, the deal would give it yet more exposure overseas as it battles a stagnant domestic market, particularly in beer. Two years ago, Kirin said it wanted to see a "quantum leap" from its business by 2015, with increasing emphasis being placed on expanding its overseas operations. Last year, the company snapped up National Foods and now, with a deal in sight over Dairy Farmers, Kirin looks set to milk the Australian market once again.


BLOG

Barilla puts sustainability centre stage

Barilla's 2016 results statement, published last week, makes interesting reading, not because of the Italian food group's commercial performance, but for the emphasis placed on sustainability achievem...

BLOG

UK M&A deal volumes slide in early months of 2017

Fresh data from Grant Thornton indicates the number of mergers and acquisitions in the UK food and drink sector fell to the lowest level for over two years in the first quarter of in 2017 - but the ac...

BLOG

Food policy returns to focus in Westminster

Amid the political turmoil in the UK caused by the EU Referendum, the resignation of a Prime Minister, subsequent burning debates over the Brexit “divorce” settlement and now by the surprise announcem...

BLOG

Danone closes WhiteWave, who will acquire Stonyfield?

Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...

just-food homepage



Forgot your password?