By STAFF Writer
December 05, 2011
After the recent successful capture of Independent Liquor of New Zealand, Japan's Asahi Group Holdings now eyes Mountain H2O, the Australian mineral water supplier.
It is reported that the two companies have reached a basic deal and are expected to approach regulators soon for the clearance in finalising the acquisition.
Mountain H2O is located at the border between NSW and Victoria in Australia. It bottles Coles Private label bottled spring water as well as its own brand mineral water. It has an annual sales of approximately $A31.4 million.
Asahi seeks to buy Mountain H2O to capitalise on the growing demand of bottled water. The company is the maker of top-selling "Super Dry" beer in Japan and had earlier bought New Zealand's beverage group for $1.3 billion.
It is learned the Japanese firm is also seeking for Malaysian bottler for PepsiCo, Permanis, for about $275 million. The company announced earlier about a deal worth $200 million for buying P&N Beverages of Australia.
Asahi signed in July two separate M&A soft-drinks deals in New Zealand and Australia worth $309 million in total for a key portion of New Zealand's Charlie's Group Ltd. and P&N Beverages Australia Pty Ltd.
Shares of Asahi closed today up by 0.4% against a 0.5% drop in the Nikkei average.
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| Mountain H2O mineral water |
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