Kirin Holdings Co. agreed to acquire a minority stake in Brooklyn Brewery, marking a rare investment by an Asian company in the $22 billion U.S. craft lager industry.
Kirin and Brooklyn Brewery will form a joint venture in January 2017 to roll out the Brooklyn brand in Japan, with plans to expand to Brazil, the companies said. Privately-held Brooklyn Brewery will issue new shares to Kirin Brewery Co., giving the Japanese company a stake of about 25 percent. They didn¡¯t disclose the value of the deal.
Kirin and other Japanese breweries have been experimenting with specialty brews as craft beer gains popularity in Japan. It¡¯s one of the few bright spots for the beer industry in Japan, where a declining population has seen consumption slump since 2001. Kirin is competing against some of the world¡¯s largest breweries to expand overseas, including a possible stake in Vietnam¡¯s top brewer.
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