Kirin to buy Mandalay Brewery to dominate Myanmar market, says report

By AFP

TOKYO — Japanese brewer Kirin will buy Mandalay Brewery for an estimated several million dollars in its latest effort to strengthen its presence in the Asia-Oceania region, a newspaper said Saturday.

Kirin will create a local subsidiary to take over the country’s oldest brewery, based in the northern city of Mandalay, from the military-backed Myanmar Economic Holdings, the Nikkei business daily said.

The Myanmar Investment Commission is expected to approve the deal soon, it said.

With the planned purchase, Kirin, which bought local market leader Myanmar Brewery in 2015, will control 90 percent of the country’s beer market.

Support more independent journalism like this. Sign up to be a Frontier member.

The Japanese company seeks an edge against foreign rivals such as the Netherlands’ Heineken and Denmark’s Carlsberg, in Myanmar, one of the few growing beer markets amid lacklustre momentum in global consumption, the Nikkei said.

The latest deal comes after Kirin expanded business acquisitions in the Asia-Oceania region.

The brewer turned Lion of Australia into a subsidiary in 2009, while it took a 48 percent stake in the beer unit of the Philippines’ San Miguel.

Kirin may also purchase state-owned Saigon Beer Alcohol Beverage, which the Vietnamese government plans to sell, the daily said.

There were no immediate comments from Kirin.

Share on facebook
Share on twitter
Share on email

More stories

Latest Issue

Stories in this issue
Who gets to vote?
For Muslim communities in rural Mandalay Region, the right to vote is at the mercy of exclusionary laws and a bureaucracy steeped in discrimination.
Defaming democracy
If the government really wants to introduce a fair framework for defamation, it needs to overhaul or replace all six related laws.

Stay on top of Myanmar current affairs with our Daily Briefing and Media Monitor newsletters

Our fortnightly magazine is available in print, digital, or a combination beginning at $80 a year

Sign up for our Frontier Fridays newsletter. It’s a free weekly round-up featuring the most important events shaping Myanmar