Tokyo, Feb. 6 (Jiji Press)–Kirin Holdings Co. said Friday that it will sell Four Roses Distillery LLC to U.S. winemaker E. & J. Gallo Winery for up to 775 million dollars. The decision by the Japanese beverage maker to sell the Kentucky-based producer of Four Roses-brand bourbon whiskey comes amid a decline in drinking among young people globally. The sale is part of Kirin’s review of its business portfolios aimed at expanding its health-related operations. Kirin will continue to sell Four Roses whiskey in Japan for the time being. It also plans to expand its Japanese whisky business. The company acquired Four Roses Distillery in 2002. The North American market made up about 90 pct of Four Roses sales. Kirin expects to complete the transaction in the second quarter. The company said that it is assessing the impact of the sale on its earnings. END [Copyright The Jiji Press, Ltd.]
Kirin to Sell Four Roses to U.S. Winemaker
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