Kirin to sell Lion Dairy & Drinks, receives approaches


Kirin to sell Lion Dairy & Drinks, receives approaches

Japanese brewer Kirin has kicked off the sale process for its Australian dairy and juice business, Lion  Dairy & Drinks, after completing a strategic review earlier this week. Lion, which is 100 per cent owned by Kirin, launched a strategic review of Dairy & Drinks last month and considered various options including selling the business, selling individual assets and further restructuring. Lion chief executive Stuart Irvine said on Wednesday following careful consideration, Lion believed a sale of Dairy & Drinks in its entirety was the best option to set both Lion and Dairy & Drinks up with the capital and resources needed for future growth. Lion has appointed Deutsche Bank, King & Wood Mallesons and Greenhill and Co as advisers. Lion has already received unsolicited approaches from potential buyers during the strategic review and will now formally engage with interested parties….. Read

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