Japanese brewer Asahi Group, owner of Grolsch and others, is selling less beer as a result of the corona crisis. Closing down catering establishments worldwide to stem the spread of the new corona virus is an obstacle to the company’s turnover.
Asahi cut his expectations for this year and looks set to change his dividend policy. In doing so, the brewer follows the example of many industry peers who are also burdened by the fact that bars and restaurants must remain closed due to the crisis.
In recent years, Asahi has increased its presence worldwide, to become less dependent on performance in the shrinking beer market in Japan. The company spent more than $ 20 billion on acquisitions.
The Japanese recently announced they would acquire Australian brewer Carlton & United for $ 11 billion. That deal has to come through before the summer.
Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com
