Blog: Kirin 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.
The UK's competition regulator has given the all-clear to Hain Celestial's bid to buy UK food and beverage group Orchard House Foods, nine months after the US group announced the deal....
Hershey made an unusual announcement today (20 September), sharing its own sales data for the last four weeks to assuage any possible investor concern over figures released by Nielsen....
As the UK starts to ponder what kind of a relationship it wants with the European Union post-Brexit, EU leaders have been lining up to warn that Britain will not be allowed to "cherry pick" deals and ...
Low food prices continue to hold back inflation rates in the UK as the supermarket price war continues in the face of rising import costs. ...
- Interview: Mondelez eyes sweet success in China
- The benefits of engaging staff in sustainability
- How food companies involve staff in sustainability
- Why Danone is withdrawing Dumex from Vietnam
- How PepsiCo is taking action on palm oil
- 2 Sisters chief Boparan buys Bernard Matthews
- Fonterra says value-added strategy paying off
- B&G Foods acquires ABF's US spice business
- General Mills profit falls as sales disappoint
- MP calls for probe into Bernard Matthews "sale"
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks
- Global Foodservice Market 2016-2020
- Global Food and Drinks Closures: Performance and Opportunities
- Fast Food Restaurants in the US - Industry Market Research Report