Sapporo Holdings to Sell Real Estate Biz to KKR-Led Group

Tokyo, Dec. 24 (Jiji Press)–Japanese beverage maker Sapporo Holdings Ltd. said Wednesday that it will sell its real estate operations to a consortium of U.S. investment fund Kohlberg Kravis Roberts & Co. and Hong Kong-based PAG Investment Management Ltd. for 477 billion yen. Sapporo Holdings aims to focus its management resources on its mainstay alcoholic beverage business in a bid to enhance its growth at home and abroad. In line with the move, the company will change its name to Sapporo Breweries Ltd. in July next year. The beverage maker plans to sell all of its stake in Sapporo Real Estate Co. to an entity jointly invested in by the investment funds in stages between June 2026 and June 2029. The entity is set to hold 51 pct of voting rights in the real estate company as of June 2026. Most of the real estate company’s assets, including its Yebisu Garden Place commercial complex in Tokyo’s Shibuya Ward, will be transferred to the entity, which will decide how to use the complex in consultation with the Sapporo side. Sapporo Holdings started considering selling its real estate business in 2024, negotiating with several potential buyers. The company will allocate proceeds from the sale of its real estate business to growth investments in its alcohol operations. END [Copyright The Jiji Press, Ltd.]