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Business deals

Asahi gulps down Singaporean vending machine company

Advend acquisition gives Japanese drink maker bigger Southeast Asian platform

Asahi Group Holdings wants to expand its presence in Southeast Asia.   © Reuters

TOKYO -- Japan's Asahi Group Holdings will acquire a Singapore-based vending machine operator to expand the reach of its beverage brands in Southeast Asia.

The Japanese beer and soft drink producer said Friday it will acquire all outstanding shares of Advend Systems by the end of March 2020, turning it into a wholly owned subsidiary. The value of the deal, which will be conducted via Malaysian unit Etika Beverages, was not disclosed.

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