Japan’s Kirin Holdings has put its Kentucky bourbon brand Four Roses up for sale at a price of $1bn, as the brewer pivots away from the struggling spirits sector towards healthcare.
Kirin has been working with advisers from UBS to test interest from potential buyers in recent weeks, with first-round bids expected as early as next month, according to two people familiar with the matter.
The sale process comes during a tough period for brewers and distillers as they contend with changing habits among younger consumers, who are reducing alcohol consumption. In Japan, beer consumption has dropped, hurting Kirin’s core product.
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