25/03/2011 - 15:46

GainCorp in $10.5m Kirin deal

25/03/2011 - 15:46

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GrainCorp has announced it will acquire Perth-based malt producer Kirin Australia from Japan's Kirin Brewery for $10.55 million.

GainCorp in $10.5m Kirin deal

GrainCorp has announced it will acquire Perth-based malt producer Kirin Australia from Japan's Kirin Brewery for $10.55 million.

GrainCorp managing director Alison Watkins said the acquisition would allow it to tap into the expanding South East Asian beverage market.

Kirin Australia operates a 46,000 tonne per annum malt production house in Welshpool.

"Having a production base in Western Australia is an important diversification step for GrainCorp Malt," Ms Watkins said.

"GrainCorp will also gain access to varieties of barley grown in WA that are not readily available to us in the east.

"This is an important competitive factor for us, and should allow GrainCorp Malt to appeal to a wider range of customers, particularly in Asia."

The transaction is expected to be completed by mid April.

 

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