JAPAN – Japanese beverage giant Asahi Group Holdings has agreed to sell its Nadaman restaurant chain to local conglomerate Onodera Group.
The financial terms of the deal, expected to close in September, were not disclosed.
Established in 1830 as a Japanese restaurant in Osaka, Nadaman has grown significantly over the years. It now operates numerous restaurants, deli stores, and contract food services throughout Japan, with additional locations in China, Hong Kong, and Malaysia.
Nadaman is known for its commitment to preserving and promoting Japan’s culinary heritage.
Onodera Group, a diverse conglomerate, owns several businesses, including contract food company LEO Corporation, Japanese baked goods retailer Little Happiness Co., and sushi maker Ginza Onodera, which has a presence in Japan, the US, and China.
“By collaborating with Nadaman, which has a major social mission of passing on Japan’s food culture, we believe we can expect to expand Japan’s food culture and create synergy effects,” Onodera said in a statement.
This move aligns with Asahi’s long-term strategy for sustainable growth, primarily centered on its beer business.
The company, which owns Peroni, aims to emphasize the premiumization of its beer offerings.
In an interview last year, CEO Atsushi Katsuki expressed confidence in the continued premiumization of the beer category.
“The premium category is doing relatively well compared to the ‘economy’ and ‘mainstream’,” he said. “Beer is an affordable luxury. People will find satisfaction in paying a little bit more to get something premium. I don’t think this big trend is going to change despite the pandemic and the issue of Ukraine, and this is very encouraging.”
Katsuki also highlighted Asahi’s focus on expanding its non-alcoholic beer portfolio, with a target to increase sales of “non- and low-alcohol” products by 15 percent by 2025.
In the first quarter, Asahi Group reported a higher-than-expected profit increase in both its domestic and European operations, with operating profit rising 8.4 percent.
However, profit from its Oceania business declined. On a constant currency basis, the beer maker’s revenue increased by 5.1 percent, a performance attributed to appropriate pricing strategies and a premiumization policy.
Asahi’s global brands experienced mixed results, with Asahi Super Dry reporting a 34 percent increase in volume sales, while Peroni Nastro Azzuro saw a 7 percent decline. Overall, volumes for its five core global brands rose by 14 percent.
In Japan, the group reported a revenue increase of 3.3 percent, with core operating profit rising by 10.3 percent, driven by increased volumes and a better price mix.
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