Carlsberg, the Danish brewing giant, has entered into an agreement with Sapporo, the Japanese beverage company, to form a major strategic joint venture across Southeast Asia and Hong Kong, alongside a partnership in the UK.
The joint venture will encompass Carlsberg’s existing operations in Hong Kong, Singapore, Malaysia, Laos, Vietnam and Cambodia, holding perpetual exclusive rights to produce and distribute Sapporo Premium Beer across these markets. Additionally, Sapporo will licence Carlsberg to produce and distribute the brand in the UK and Myanmar under long-term agreements.
Carlsberg will hold a 75% stake in the joint venture and retain full operational control in the markets, receiving a gross cash consideration of $643 million from Sapporo, which will hold the remaining 25% stake.
Carlsberg CEO Jacob Aarup-Andersen commented: “The new joint venture and long-term strategic partnership add Sapporo’s premium Japanese brand to Carlsberg’s strong portfolio […] enabling us to accelerate our growth ambitions in these important markets”.
Completion of the transaction remains subject to required regulatory approvals and customary closing conditions.
Source: Carlsberg / Sapporo (via Webwire)
