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Kirin sells Four Roses to Gallo for $775m
Japanese brewer Kirin Holdings has agreed to sell its Kentucky bourbon brand Four Roses to US-based Gallo Winery for up to $775m.
Kirin bought Four Roses in 2002 and said it was looking to complete the deal in the second quarter, Reuters reported.
The sale price also includes an earn-out fee of which $50m will be paid out if the brand hits a performance target.
The move will allow Kirin to "reallocate its resources toward businesses that could further grow by leveraging Kirin’s own organisational capabilities,” Reuters reported.
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