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Suntory considers merging with Kirin
Source: Agencies |
July 14, 2009, Tuesday
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JAPAN'S top two beverage makers, Kirin and Suntory, are considering merging operations, a Suntory spokesman said yesterday.
A merger of the two would create the world's fifth-largest food company by sales, just behind Kraft Foods Inc and PepsiCo Inc, the Nikkei business newspaper reported.
It would also help the companies overcome a saturated domestic market with an aging population and compete more strongly with large international brands.
"A merger is one possibility we are considering," said Kuzaki Kitahara, a spokesman for Suntory Holdings Ltd.
Kirin Holdings Co said in a news release that it already cooperates with Suntory in areas such as distribution and procurement, but it said nothing concrete had been decided about a merger.
Privately held Suntory is well known for its whisky and beer products.
Kirin, Japan's largest food and beverage company, is best known domestically as a beer and soft drink producer. It also owns major food and alcohol producers in Australia and throughout Asia.
Kirin shot up 7.8 percent to 1,392 yen (US$15.10) yesterday in Tokyo, while the Nikkei average dropped 236.95 points, or 2.6 percent, to 9,050.33, its lowest finish since May 18.
A merger of the two would create the world's fifth-largest food company by sales, just behind Kraft Foods Inc and PepsiCo Inc, the Nikkei business newspaper reported.
It would also help the companies overcome a saturated domestic market with an aging population and compete more strongly with large international brands.
"A merger is one possibility we are considering," said Kuzaki Kitahara, a spokesman for Suntory Holdings Ltd.
Kirin Holdings Co said in a news release that it already cooperates with Suntory in areas such as distribution and procurement, but it said nothing concrete had been decided about a merger.
Privately held Suntory is well known for its whisky and beer products.
Kirin, Japan's largest food and beverage company, is best known domestically as a beer and soft drink producer. It also owns major food and alcohol producers in Australia and throughout Asia.
Kirin shot up 7.8 percent to 1,392 yen (US$15.10) yesterday in Tokyo, while the Nikkei average dropped 236.95 points, or 2.6 percent, to 9,050.33, its lowest finish since May 18.
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