Brewer and pub operator Fuller’s has agreed to sell its entire beer, cider, soft drinks and distribution business to Asahi for a sum of £250 million.
The proposed deal involves brands such as London Pride, Frontier and Cornish Orchards cider, which will join Asahi Super Dry, Peroni Nastro Azzurro and Meantime under Asahi Europe ownership.
Asahi Europe will acquire the operations at Fuller, Smith & Turner’s Chiswick-based Griffin Brewery, where it will continue to brew.
The two businesses have also agreed to arrangements that will see beers from across the Asahi portfolio sold in Fuller’s-owned pubs and tenanted outlets.
Hector Gorosabel, CEO at Asahi Europe, said: “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.”
“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.”