Tokyo, Oct 22, 2009 (JCN) - Kirin Holdings has shifted management of its operations in Oceania to a holding company structure. On Oct 15, Kirin acquired the remaining 53.87% of the shares in, and became the 100% owner of, its consolidated subsidiary Lion Nathan Limited, a major alcohol beverage company operating primarily in Australia and New Zealand.
In launching the new group structure, Kirin's operating businesses in Australia, Lion Nathan Limited ("LN") and National Foods Limited ("NFL"), have been brought under Kirin's wholly owned subsidiary Kirin Holdings (Australia) Pty Ltd ("KHAU") on October 21, and at the same time the name of KHAU has been changed to Lion Nathan National Foods Pty Ltd ("LNNF").
This group structure has been adopted to further the pursuit of Kirin's comprehensive beverages group strategy, and will bring all Kirin's operations in Oceania under the overall management of a single entity, LNNF.
The board of LNNF will comprise CEO Rob Murray, three directors from Kirin (including one full-time director) and three independent directors, combining the in-depth knowledge of the management team in Oceania with governance from Kirin.
Centered on the new holding company LNNF, Kirin will pursue development of its integrated beverage business and establish its original group management business model in the region.
Kirin first invested in LN in April 1998 and NFL in 2007, and following those investments has implemented cooperative strategies on a number of fronts. Under the new structure and management team adopted today, Kirin will aim to improve the earnings of its overseas operations while accelerating both the organic growth and inter-company synergies of LN and NFL.
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