Asahi Pops Top On $1.3B NZ Drinks Co. Deal

Law360, New York (August 18, 2011, 11:43 AM EDT) -- Asahi Group Holdings Ltd. expanded its overseas plans Thursday with a deal to buy New Zealand's Independent Liquor Group for $1.3 billion from two private equity groups, even as it completes its $322 million purchase of juice maker P&N Beverages Australia Pty. Ltd.

The Tokyo-based beverage giant said it will purchase the outstanding shares of Flavoured Beverages Group Holdings Ltd., Independent Liquor Group's parent. The company is New Zealand's largest — and Australia's third-largest — alcoholic ready-to-drink company.

The announcement came just over two weeks after...
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