Asahi Group Holdings announces agreement with Myanmar-based beverage maker Loi Hein to establish JV to produce, sell carbonated soft drinks; Asahi will invest 2.3B yen to acquire 51% stake in JV
March 7, 2014
– Asahi Group Holdings Ltd. said Friday it has agreed with major Myanmar beverage maker Loi Hein Co. to establish a joint venture to produce and sell carbonated soft drinks.
Asahi will invest 2.3 billion yen to acquire a 51 pct stake in the joint venture.
The major Japanese beverage maker aims to establish soon distribution channels in Myanmar's drink market, which it expects to grow.
The new joint corporation is scheduled to start operations by the end of June at the earliest. It plans to manufacture Loi Hein-brand carbonated soft drink products efficiently by using Asahi's production know-how and other capabilities.
Asahi hopes to expand the annual sales of the joint venture to 10 billion yen by 2018.END
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