Sapporo buys 51% stake in Silver Springs Citrus
Sapporo International, a newly established firm to manage the overall international liquor business for the Sapporo Group, has acquired 51% stake in American orange and grapefruit juice producer Silver Springs Citrus (SSC).
Sapporo has agreed to pay $24m to Toyota Tsusho America, the parent company of SSC.
SSC is a US-based manufacturer of private-brand (PB) chilled beverages with large-scale retail chains and major beverage manufacturers as its clients mainly in the US and Canada.
Sapporo aims to expand its business area from its alcoholic beverages (international) business to its overall international business, positioning both North America, as an operational base, and fast-growing Asia as a priority area.
Sapporo also intends to improve quality at SSC and introduce drink-making technology.