It is going to cost Fullers more than expected to separate its two arms after selling its brewing business to Japan’s Asahi earlier this year, leaving Fullers to focus on its pubs.
According to Fullers, costs have transpired to be materially higher than expected.
In the Sun, Fullers CEO Simon Emeny is quoted as saying: “We haven’t done a transaction like this. The beer company has been with us for 174 years.”
It’s just not Fullers that Asahi Group Holdings wants. The Japanese company has doubled its acquisitions of breweries. According to a report in Yahoo Finance, in July Asahi spent $11 billion to buy Australia’s Carlton & United Breweries from Anheuser-Busch. All total, the company has spent recently $20 billion to buy breweries around the world.