Outgoing owners, the private equity firms Pacific Equity Partners and Unitas, achieved a purchase price of NZ$1.5b (JPY 97.6b / £760m) for the group, which trades under the name Independent Liquor Group (ILG).

ILG is a member-owned wholesaler that services hotels, bottle shops, licensed clubs, bars and restaurants.

According to the deal, the purchase price will be subject to price adjustments, based on the level of 'working capital', 'cash on hand' and 'interest-bearing debt' at the time of completion.

In a statement Asahi said: “Through the acquisition of Flavoured Beverages, Asahi will gain a strong position in the alcoholic beverage markets in New Zealand and Australia.

“By promoting collaboration with existing beverage business groups in the region, Asahi aims to enhance its overall corporate value in Oceania.”

Asahi described Flavoured Beverages as having a “strong market position” in New Zealand, where it is ranked first in volume terms, and in Australia where it is the third largest player.