Iconic Australian beers like Carlton Draught and Victoria Bitter will soon be owned by the giant Japanese brewer Asahi, after its $16 billion bid for CUB was approved by the Foreign Investment Review Board.
The deal will see Asahi end up with about 48.5 per cent share of the Australian beer market, when CUB’s 45 per cent share is combined with its existing footprint, making it the country’s biggest brewer.
Asahi will acquire CUB, which was founded in Melbourne in 1907, from the giant international brewer Anheuser-Busch InBev (AB InBev). In addition to VB and Carlton Draught CUB also makes beers such as Melbourne Bitter and Great Northern, while Asahi’s key beer names in Australia include Asahi, Peroni and Mountain Goat.
“Asahi Beverages welcomes the Foreign Investment Review Board’s approval of Asahi’s acquisition of Carlton & United Breweries (CUB),” Asahi Beverages said in a statement on Thursday.