Frucor was sold for about €600m ($756.7m) by Groupe Danone of France, which is refocusing its global portfolio on natural mineral water and spring water-based beverages.
Frucor MD Mark Cowsill told local reporters the existing management team would remain in place, and no major restructuring or job cuts were envisaged.
As well as stepping up investment in Frucor’s existing markets, cash-rich Suntory plans to expand the company’s business in Europe and Southeast Asia, and expects to introduce some New Zealand products in Japan.
Equally, Cowsill continued, some of Suntory’s own bestselling beverages could be introduced in New Zealand. As examples, he cited the yogurt drink Bikkle, Boss RTD coffee and CC Lemon, Japan’s favourite soft drink after Coke and Pepsi.
Although best known for its whisky, Suntory also produces beer and wine, and is Japan’s second biggest producer of non-alcoholic beverages. As well as its own soft drinks, the company distributes PepsiCo beverages on the Japanese market. Like its major rivals, Kirin and Asahi, Suntory is seeking to expand abroad as growth slows in its home market.
Frucor produces a wide range of juices, soft drinks and water, as well as distributing PepsiCo beverages in New Zealand. The most successful company-owned brand is the energy drink V, which has a category share of about 60% in New Zealand and 50% in Australia. Frucor’s turnover last year was around €210m ($265m).
© FoodBev Media Ltd 2024