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Japanese food and beverages giant Kirin Holdings, which owns 46 per cent of local brewer Lion Nathan, is considering a A$2 billion-plus ($2.20 billion-plus) acquisition of San Miguel Corp's Australian dairy and fruit juice assets, the Australian Financial Review reported today.
Kirin has held talks with San Miguel on the potential purchase of the Philippine group's Berri and National Foods operations in Australia, the paper said, citing a source close to the talks.
San Miguel bought National Foods in 2004 after outbidding New Zealand's Fonterra in a protracted battle.
National Foods produces brands such as Pura white milk, Big M flavoured milk, King Island cheese and Yoplait yoghurt.
Kirin, the largest shareholder in San Miguel with a stake of around 20 per cent, is keen to expand in Australia beyond alcoholic beverages, the paper said.
It already controls Lion Nathan, the owner of beer brands including Steinlager, Tooheys and XXXX.
The source said the talks were "highly logical", the paper said.
- REUTERS
