The Japanese corporate takeover of New Zealand’s liquor industry is almost complete, with the purchase of Independent Liquor from its investment company owners, by Japanese brewer Asahi. Asahi has paid NZ$1.5 billion for the company, which is the third largest liquor company in Australia and New Zealand.
With both brewing and spirits production capacity, Independent Liquor has become the dominant force in low priced alcohol sales on both sides of the Tasman. With cheap beer brand Haagen popular in supermarkets, and Woodstock bourbon big in both RTD and bottled spirits, the company has a strong suit in the bottom end of the drinks business.
Asahi has been a strong buyer of Oceania drinks business assets in recent years, now owning Schweppes Australia and Charlies. New Zealand’s other major liquor corporations also have Asian owners, with Lion now owned by Japanese brewer Kirin, and DB an asset of Singapore-based Asia Pacific Breweries.
The Asahi purchase is conditional on overseas investment approval.
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