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Asia/Australia
Their creative accounting was not rewarded. Two private equity firms will have to pay Asahi Group Holdings’ local subsidiaries USD 200 million (EUR 160 million) to settle a dispute over the Japanese company’s acquisition of Independent Liquor in 2011. Asahi paid Pacific Equity Partners and Unitas Capital USD 1.3 billion for New Zealand’s beverage company Independent liquor, which was the Japanese brewer’s biggest purchase at the time.
Asia/Australia
Recent work by the Wine Economics Research Centre within the School of Economics of the University of Adelaide in Australia makes interesting reading. Published as a note entitled Excise Taxes on Wines, Beers and Spirits: An Updated International Comparison by the American Association of Wine Economists as Working paper No. 170, it compares the various excise taxes applied to wholesale prices for wines, beers and spirits across 30 selected countries, using data from January 1, 2012 and July 1, 2014.
Asia/Australia
What has become of Casella’s much touted Arvo beer brand which was launched a few years ago? Was it too mainstream to be considered craft? Or why would the erstwhile wine company Casella, now with the help of joint venture partner Coca-Cola Amatil (CCA), launch a range of beers under the Yenda brand?
Asia/Australia
The world’s number two drinks company, France’s Pernod Ricard, reportedly got slapped on the wrist by South Korea’s National Tax Service (NTS) and fined 10 billion won (EUR 7.5 million) for tax evasion, the Korea Times newspaper wrote on 10 October 2014.
Asia/Australia
The family that controls South Australia’s Coopers Brewery, Australia’s major privately-owned brewer, has quietly changed the company’s century-old constitution, which could make it almost impregnable to a hostile takeover, Australian media reported in October 2014.
Asia/Australia
Could it be that Cargill is cutting off its nose to spite its face? The Age newspaper reported on 8 October 2014 that Cargill, the owner of Australian maltster Joe White, is suing Joe White’s former owner Viterra because Joe White allegedly supplied brewers with sub-standard products. These allegations were made in a Victorian Supreme Court lawsuit filed by Cargill against Canada’s Viterra, a subsidiary of Swiss resources group and commodities trader Glencore.
Asia/Australia
It’s a big worry. What is to be done if political correctness goes over the top like in Australia? International media reported on 9 October 2014 that the West Australian Opera company has dropped its production of the opera Carmen from its repertoire because it features smoking.
Asia/Australia
If BrewDog can open a bar in Tokyo – they did so in March 2014 -, something must be underfoot in this market. Although the big four brewers Kirin, Asahi, Sapporo and Suntory combined probably control 99 percent of all beer sold nationally, craft beer is gaining in popularity. The country’s 200 craft brewers presently account for 1 percent of overall beer sales in Japan, but the percentage is expected to increase to 2 to 3 percent by 2020.
Asia/Australia
Did Treasury’s board take the decision to put the company up for sale without consulting its major shareholders? Looks like it.
Asia/Australia
How the mighty have fallen. The state-run United Bank of India on 1 September 2014 became the first lender to declare Vijay Mallya a wilful defaulter, which in the world of business is the equivalent of a persona non grata.
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BRAUWELT on tour
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BRAUWELT on tour
