F&N loses out to Asahi in $3b Peroni and Grolsch bid

It will have to find other targets.

Japanese brewer Asahi has emerged as the winner for SABMiller’s Peroni and Grolsch beer brands, elbowing out competitors including Singapore-listed Fraser & Neave.

Asahi is said to have offered pver $3b for the brands, which will give the brewer a stronger position in many developed markets.

Earlier this year, Fraser and Neave confirmed that it is bidding for Peroni and Grolsch. The ThaiBev subsidiary is reeling from the loss of its key beer business Myanmar Brewery, which it was forced to sell in 2015.

As a result of the Myanmar Brewery sale, cash-flush F&N is loaded with a substantial war chest which analysts say will be used to fund acquisitions across the global.