F&B/Cerebos: Suntory announced that it will establish a new company in Spore to oversee M&As in SE Asia. The Jap brewer will transfer M&A-related functions for the region to the newco, which will begin operating from Sep 11. Group companies in Thailand & Indonesia will be placed under the Spore umbrella & continue to expand operations locally. In the face of a sluggish alcohol market in Japan, leading brewers are speeding up M&As abroad. Earlier, Suntory has acquired an Indon beverage maker while rival Asahi has been snapping up F&B companies in Australia & NZ & Kirin recently bought a Brazilian brewer.
Suntory is the major shareholder of Cerebos, with a 83% stake in the Spore-listed beverage company & we wonder if Cerrebos will play part in Suntory’s future M&A deals.
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