Suntory Liquors Limited (Head Office: Minato-ku, Tokyo; President: Yasunori Aiba) has signed an agreement to acquire a 70% share in China-based wine importer and distributor ASC Fine Wines Holding Ltd (ASC) (Head Office: Hong Kong; CEO: Donald Allen St. Pierre). Additionally, Kokubu & Co., Ltd. (Head Office: Chuo-ku, Tokyo; Chairman: Kanbei Kokubu) has signed an agreement to acquire a 10% share in the company.
ASC conducts business from regional offices in twelve major Chinese cities including Beijing, Shanghai, Shenzhen, Chengdu, and Hong Kong as one of the largest wine importers and distributors in China, with fast-growing sales. The company imports and sells a broad international portfolio including fine Bordeaux from France, selections from Australia's Penfolds Wines, Freixenet sparkling wines from Spain, and many others, as well as luxury glassware.
The Suntory Group entered the Chinese beer market in 1984 and the soft drink market in 1995. The group continues to develop business in China, as by their introduction of HIBIKI, YAMAZAKI, and other whisky.
Acquisition of ASC enables greater expansion into the surging domestic wine market and secures Suntory distribution channels in China, paving the way for further local business growth.
|Company Name||ASC Fine Wines Holding Limited|
|CEO||Donald Allen St. Pierre|
|Group sales||7.1 billion yen (2008; exchange rate: 1 yuan = 14 yen)|
|Employees||513 (as of November 2009, including subsidiaries)|
|Business area||Importing and sales of wine, glassware, and related products|
|Main products||Wine imported from 15 countries, including fine Château Lafite-Rothschild and Château Latour Bordeaux, Penfolds (Australia), Fortant (France), and Freixenet (Spain)|