Asahi Pours Out $1.5B For Beverage Maker Calpis

Law360, New York (May 8, 2012, 2:24 PM EDT) -- Japanese beverage giant Asahi Group Holdings Ltd. has inked a deal valued at approximately 120 billion yen (US$1.5 billion) to acquire Calpis Co. Ltd. from Ajinomoto Co. Inc., Asahi said Tuesday.

The purchase pushes Asahi's market share over the 10 percent mark and vaults the maker of Japan's top-selling beer, Asahi Super Dry, into third place in the domestic soft drink market, according to a statement Asahi issued Tuesday.

The deal for Calpis, best known for its eponymous fermented milk drink, is expected to close Oct....
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