Kirin puts Lion Dairy up for sale

AUSTRALIAN dairy and juice maker Lion Dairy and Drinks is up for sale by its Japanese owners following a monthlong review.

Lion Group, owned by Japanese beer giant Kirin Holdings, launched a strategic review into its dairy and juice arm last month to look at the value of investing or carving off the business.

Lion chief executive Stuart Irvine says the sale is the best option to set both Lion and LDD up with the capital and resources for future growth.

The capital raised will fund growth in Lion’s other businesses including its alcohol and coffee brands, Mr Irvine said, with the company looking to explore the global “high growth” craft beer market.

Lion’s alcohol businesses in Australia and New Zealand will not be affected by the sale of LDD, he said.