Kirin may offload Lion Dairy and Drinks
Japan’s beer and beverage maker Kirin Holdings is undertaking a strategic review of its Australian Lion-Dairy and Drinks unit, which may result in the sale of the business.
The Dairy & Drinks arm of the beverage company carries well-known brands such as Big M, Yoplait, Pura and King Island Dairy.
“[Lion’s] turnaround phase is now complete,” Lion chief executive officer Stuart Irvine said to The Age. “The investments we have made have grown profitability and created a sound platform for future growth with our high-quality brands and leading Australian cold-chain distribution network at its heart.”
The review did not include its Australian beer division, such as Tooheys, Boags, XXXX and Hahn. The ongoing review will consider all options including the retention of the whole business, selling and other options such as selling some of its brands and partnerships.
“It is appropriate at this point in time to consider the best pathway forward to maximise its sustainable growth potential for the future,” Kirin said in a statement.
Lion restructured itself in 2015 during its Turnaround Program launched in 2014 and also through the Kirin Group 2016-2018 Medium term Business Plan in 2016.