Kirin Holdings: Now Indirectly Hold 57% Stake In Vietnam's Interfood

Kirin Holdings: Now Indirectly Hold 57% Stake In Vietnam's Interfood

Kirin Holdings Company (2501.TO) said Thursday that it has acquired a holding company with a majority interest in Vietnam's softdrink maker Interfood Shareholding Co. (IFS.VH) (HOSE:IFS), as part of efforts to expand its presence in Asia and Oceania.

The Tokyo-based company, which owns all of Australia's Lion Nathan Ltd. and 48% of San Miguel Brewery Inc. of the Philippines, said it bought an entire stake in Malaysia-based Trade Ocean Holdings, which has a 57.25% stake in Interfood. Kirin also bought an entire stake in Wonderfarm Biscuits & Confectionery Sdn. Bhd., which controls the intellectual property rights of Interfood.

A Kirin spokesman declined to give the monetary value of the transaction.

With a vast store network and 1,200 employees, the Vietnamese company racked up sales of $56 million and its earnings before interest, tax, depreciation and amortization worth $6 million in the business year ended Dec. 31, 2009.

Dow Jones Newswires