Source: KamCity
Sep 10th
Japanese brewer Sapporo has announced plans to invest up to $2.5bn over the next five years, saying the money will be used for expanding capacity and acquisitions. The group also said it will continue to look for ways to grow its presence in the food and soft drinks categories, reducing its dependence on beer.
President Tsutomu Kamijo said the group is sticking by its investment plans despite lowering full-year profit and revenue forecasts in August. Sapporo had cut its operating profit forecast by 20%, citing higher marketing costs, but Kamijo said it "won't have a big impact" on the investment plan.
Kamijo added that he is "watching with interest" for possible acquisitions in the domestic yogurt or milk industries. Last year, the group acquired local food & beverage maker Pokka, and earlier this year, it picked up a 51% stake in US beverage firm Silver Springs Citrus.
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