Schweppes Australia sold to Asahi Breweries (Japan) for $1.2 billion
Drinks giant Asahi Breweries has bought Schweppes Australia for $1.2 billion, in the latest Japanese raid on an Australian food and drinks company. This is the fourth buy-out of an Australian company by a Japanese brewer in just over a year, following Kirin’s acquisition of Dairy Farmers and National Foods, and Suntory’s successful bid for Frucor. Australia was the last country where Cadbury maintained a drinks operation. US-based Coca-Cola Company relinquished its negotiation right regarding the takeover. Asahi Breweries will complete the deal by the end of April 2009 [source]