CUB joins Asahi Beverages
Asahi Beverages finalised the acquisition of Australian beer giant Carlton & United Breweries (CUB) on Monday. CUB is now part of the business division of the Asahi Beverages Regional Hub alongside Asahi Premium Beverages, Asahi Lifestyle Beverages and Asahi Beverages NZ.
The Japanese beverage giant said CUB will continue to operate in much the same way with CUB employees transferring over to Asahi as part of the deal.
“This is a very exciting time to be part of the Asahi Beverages family as we embark on the next chapter, as the Oceania regional hub for Asahi,” chairman, Asahi Beverages, Peter Margin said.
“The acquisition of CUB will mean that Asahi Beverages is able to offer customers and consumers an even broader range of great tasting beverages with the addition of some of Australia’s most popular and well-loved beer brands.”
The Foreign Investment Review Board approved the A$16 billion deal last month, following the sale of a number of Asahi brands including Strongbow, Bonamy’s, Little Green cider brands and Stella Artois and Beck’s beers.
Australia’s competition watchdog, ACCC, had previously voiced concerns that the deal could lessen competition in cider and beer due to the number of major brands across the two portfolios.