Carlsberg may sell some Asia operations, Sapporo in talks

DANISH brewer Carlsberg is considering selling part of its Asian operations, and Sapporo Holdings has emerged as a top candidate to make the purchase, people familiar with the matter said.

Carlsberg is in discussions with the Japanese company, which is leaning towards acquiring a minority stake in its Asian business, the people said. The sale may not proceed if an agreement cannot be reached on the ownership ratio and other terms, they added.

A Sapporo Holdings spokesperson declined to comment, saying the company is not the source of this information. A spokesperson for Carlsberg said it does not comment on market rumours or speculation. 

Sapporo Holdings is also proceeding with the sale of its subsidiary Sapporo Real Estate, which operates high-profile Tokyo properties such as Yebisu Garden Place. It aims to reach a conclusion by December.

The possible deal aligns with its strategy to strengthen its core beer business after selling off the real estate operations.

Sapporo Breweries, a subsidiary of Sapporo Holdings, announced in 2023 a business partnership with Carlsberg for the production and sale of Sapporo beer in Hong Kong, Singapore and Malaysia. By developing this into a capital alliance, Sapporo aims to better leverage Carlsberg’s sales network and boost sales of its beer in Asia. BLOOMBERG