September 11, 2018 / 1:18 AM / 9 days ago

Japan's Kirin say it may sell its Lion-Dairy and Drinks unit

TOKYO, Sept 11 (Reuters) - Japan’s beer and beverage maker Kirin Holdings Co Ltd said on Tuesday it has started a strategic review of its Australian Lion-Dairy and Drinks unit, looking at a possible sale among its options.

The unit, whose brands include PURA milk and Big M flavoured milk, is part of Kirin’s Australia-based subsidiary Lion Pty Ltd, the maker of XXXX beer.

“It is appropriate at this point in time to consider the best pathway forward to maximise its sustainable growth potential for the future,” Kirin said in a statement.

It also said options included retaining the unit and investing in it and that no decision has been made yet.

Kirin has been reviewing its business portfolio, which spans alcohol, beverages, food and drugs at home and overseas. Last year, it sold its money-losing Brazilian beer business - bought for $3.9 billion in 2011 - to Heineken <NV HEIN.AS> for $1.09 billion.

Reporting by Taiga Uranaka and Chris Gallagher; Editing by Edwina Gibbs

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