Kirin Holdings is considering the sale of its Australia-based Lion Dairy and Drinks (LDD) unit, as the company announced that it would commence a strategic review of the business.
LDD produces and distributes a range of dairy products and beverages in Australia, such as the Yoplait and Masters brands and beers such as XXXX and Hahn.
Kirin claims that the strategic review will consider “all potential options” for the business, including a sale of the unit.
A statement from the company said: “It is appropriate at this time to consider the best pathway forward to maximise its sustainable growth potential for the future.”
The statement made clear that the company had not made a decision at this time, and that an alternate course of action would be to retain and invest in the business.
According to the statement, LDD has improved profitability from 2015 following the implementation of the company’s Turnaround programme launched in 2015, and that this has “re-positioned the business for growth.”
The sale would mark another major divesture from the Japanese company, following the sale of its Brazilian beer operations to Heineken for €665 million last year.
By Martin White
Source: FoodBev
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