TOKYO -- Kirin Holdings on Monday announced it will sell its Australian beverage business to China Mengniu Dairy for 45.6 billion yen ($419 million) in 2020.
In a deal first reported by Nikkei, the Japanese brewer has decided to unload Lion Dairy & Drinks, a unit under Lion, which oversees Kirin's operations in Australia and New Zealand. The unit logged sales of 144.2 billion yen and an operating profit of 5.1 billion yen for 2018.
