Japanese brewer Sapporo Holdings will turn soft drink maker Pokka into a subsidiary to boost its beverage business amid a shrinking domestic market, the two companies said Thursday.
The 21.27 billion yen ($257 million) deal comes at a time of heightened merger and acquisition activity in Japan’s beverage market as companies grappling with a declining population at home search for growth.
Sapporo, which has a 21.4-percent stake in Pokka, will raise its holding to 85.5 percent to make Pokka its consolidated subsidiary.
The fourth-largest Japanese brewer will boost its stake through the purchase of shares from investment fund Advantage Partners, dairy food and confectionery maker Meiji Seika Kaisha and others on March 29.
Read the rest of the story: Japan’s Sapporo to take over soft drink maker.