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Business deals

Nomura and Carlyle to acquire Okinawa's Orion Breweries

Japanese beer maker looks to break into overseas markets

Orion beer
U.S. private equity fund The Carlyle Group and Japanese investment bank Nomura Holdings are teaming up to buy Orion Breweries, Japan's No. 5 brewer.

TOKYO -- Nomura Holdings and U.S. private equity fund The Carlyle Group are planning to buy Orion Breweries, the fifth-biggest beer maker in Japan.

The partners are expected to pay tens of billions of yen for the acquisition.

Orion, founded in 1957, is an unlisted company based in the southern prefecture of Okinawa. The company had sales of 28.3 billion yen ($258 million) in the fiscal year ended March 2018, up 1% from the previous year. Its net profit fell 17% on the year to 2.3 billion yen.

The brewer hopes the acquisition will help it expand in the U.S. and elsewhere in Asia.

Orion is expected to maintain its partnership with beverage maker Asahi Group Holdings, which owns a 10% stake in Orion and is currently its largest shareholder. Nomura and Carlyle plan to buy stock from about 600 shareholders, mostly individuals.

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