Tokyo-based sauces-to-convenience foods maker House Foods Corp. has sold its bottled water arm to Asahi Breweries’ soft drinks unit.
Asahi Soft Drinks Co. purchased the Oi Shii Mizu branded mineral water brand for JPY5.3bn (US$56.9m), the firms announced today (8 April).
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The sale will include the business of production and distribution of Oi Shii Mizu. This includes land, buildings and equipment of both the firm’s Rokko plant and its Nada water source point.
The transaction is expected to close by the end of May.
