1 Min Read
(Reuters) - Japanese brewer Kirin Holdings Co Ltd (2503.T) said on Wednesday it would buy a minority stake of about 24.5 percent in privately held Brooklyn Brewery to help it expand its craft beer offerings in Japan and Brazil.
The companies, which did not disclose a deal value, said they would establish a joint venture next year in Japan to begin offering the Brooklyn brand while planning to expand into Brazil. (bit.ly/2dKvg3w)
The joint venture will be 60 percent owned by Kirin, the maker of Kirin Ichiban and Kirin Light beer, and 40 percent by New York's Brooklyn Brewery, which sells brands such as Brooklyn Lager and Brooklyn Defender IPA.
Kirin said Brooklyn Brewery would continue to operate independently and that no management changes are planned.
The companies also said they would consider launching a restaurant business in the future and developing original products for the Japanese market.
Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Martina D'Couto