The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Carlsberg Group has entered into an agreement with Sapporo Breweries, forming a major joint venture across Southeast Asia and Hong Kong, and partnership in the UK.

The joint venture builds on Carlsberg and Sapporo’s existing relationship, having collaborated on the sale of Sapporo Premium Beer in Malaysia, Hong Kong and Singapore since 2024.

It will include Carlsberg’s existing operations in these regions, as well as in Laos, Vietnam and Cambodia, and includes long-term exclusive rights to produce and distribute Sapporo Premium Beer in these markets.

Additionally, Sapporo will grant Carlsberg the licence to produce and distribute Sapporo Premium Beer in the UK and Myanmar on long-term agreements. The breweries will also explore opportunities to introduce the brand to other European and Asian markets.

Carlsberg will hold a 75% stake in the JV, and retain full operational control of the markets. It will receive a cash consideration of $643 million from Sapporo, which will hold a 25% stake. Carlsberg said it plans to use the cash consideration to repay debt and for general corporate purposes.

Sapporo Premium Beer is described as ‘highly complementary” to Carlsberg’s brand portfolio in the JV markets, known for its Japanese provenance and premium brand positioning.

Jacob Aarup-Andersen, Carlsberg Group’s CEO, said: “The new joint venture and long-term strategic partnership add Sapporo’s premium Japanese brand to Carlsberg’s strong portfolio of local and international brands and route-to-market capabilities in Southeast Asia and Hong Kong, enabling us to accelerate our growth ambitions in these important markets”.

Hiroshi Tokimatsu, Sapporo Breweries' CEO, commented: “By combining the strong brand equity we have built with Sapporo Premium Beer and the Carlsberg Group’s outstanding business platform across Asia and Europe, we aim to deliver even more premium and attractive experiences to customers around the world”.

“This partnership represents a significant milestone in our international business strategy, and we're confident and encouraged to move forwards together as trusted partners.”

Completion of the transaction remains subject to regulatory approvals and customary closing conditions.