Danish brewer Carlsberg and Japan’s Sapporo Breweries are expanding their partnership by forming a new joint venture across Southeast Asia and Hong Kong, the Carlsberg Group announced on July 6.
The agreement covers Malaysia, Singapore, Hong Kong, Laos, Vietnam and Cambodia, where the new company will have exclusive rights to produce and distribute Sapporo Premium Beer, according to Carlsberg.
US$643 million deal
Under the deal, Sapporo will invest US$643 million for a 25 percent stake in the joint venture, while Carlsberg will retain 75 percent ownership and continue to manage the business.
“We look forward to working with our new partner as we expand our combined business together across the joint venture markets and beyond, and begin an exciting cooperation in the UK. The long-term strategic opportunities between the two companies are truly exciting,” Carlsberg CEO Jacob Aarup-Andersen said.
The agreement also gives Carlsberg a long-term licence to produce and distribute Sapporo Premium Beer in Myanmar and the United Kingdom.
The deal must still be approved by regulators before it can be completed.
