Asahi to acquire Fuller's for £250m

Asahi Europe has agreed to acquire the entire beer, cider, soft drinks and distribution business of Fuller, Smith & Turner PLC for £250m on a debt free, cash free basis.

The acquisition involves brands such as London Pride, Frontier and Cornish Orchards cider and they will join Asahi Super Dry, Peroni Nastro Azzurro and Meantime under Asahi Europe ownership.

Asahi Europe will acquire the operations at the Chiswick-based Griffin Brewery where it will continue to brew, while beers across the Asahi portfolio will also be sold in Fuller’s-owned pubs and tenanted outlets.

“Asahi Europe has already established a leading presence in the premium beer category. Welcoming these brands and operations to our business will further consolidate that position, enabling us to even better serve our customers and consumers,” said Hector Gorosabel, CEO at Asahi Europe.

“At the same time, our global footprint will enable us to unlock the potential in these brands internationally to significantly enhance their scale and value. It is another step towards realising Asahi Europe’s vision of becoming a global brewing powerhouse built on our commitment to brewing excellence and quality.”

The transaction is expected to close in the first half of 2019.