Japanese brewer Kirin will attempt to recoup some of the $2 billion it has blown on Australian dairy and drinks investments over the past 11 years by selling leading brands such as KIng Island cheese, Dairy Farmers milk and Farmers Union yoghurt.
Kirin has kicked off a formal sale process for its $1.8 billion Australian dairy and juice business, Lion Dairy & Drinks (LDD) after completing a strategic review earlier this week.
Lion, which is 100 per cent owned by Kirin, launched the strategic review last month and considered options including selling the business, selling individual assets and further restructuring.
Rather than persist with restructuring and inject further capital into the business, Kirin has decided to pull the …
Read the full article at: https://www.afr.com/business/retail/kirin-to-sell-lion-dairy–drinks-receives-approaches-20181010-h16fqv