Japanese alcohol and soft drinks manufacturer Asahi has completed acquiring the Independent Liquor Group, which includes Independent Liquor in New Zealand and Independent Distillers in Australia, for NZ$1,534million (approximately 98 billion yen). The transaction is Asahi's biggest purchase as it looks overseas to offset declining domestic sales.

The acquisition of Independent Liquor, which is just one of the deals Asahi has made in the Oceania region in the past two months, is expected to further strengthen Asahi’s overseas beverages business and provide an entry into the growing ready-to-drink market.

In tandem with Asahi’s existing operations in Australia and New Zealand, through Schweppes Australia, the juice and water business acquired from P&N Beverages and Charlie’s Group, this latest acquisition will help consolidate its platform for future growth in the Oceania region.

Founded in Auckland, New Zealand, in 1987, Independent Liquor is a fully integrated alcoholic beverages business involved in the marketing, manufacturing and distribution of a broad range of products including ready-to-drink spirits, beer, spirits, wines and shots. In Australia, it trades under the name of Independent Distillers.

Asahi has operations in Japan, China, the U.S. and Australia, and employs approximately 16,700 people globally as of Dec. 31, 2010.