Monthly Archives: May 2023

Takeover target United Malt cuts earnings guidance

Takeover target United Malt has cut its first-half earnings guidance as more evidence emerges that beer drinkers are tightening their belts in response to inflation. The earnings downgrade comes as European suitor Malteries Soufflet continues to run its eye over the business after launching a near-$2 billion takeover bid last month. United Malt said on Thursday it expected first-half underlying earnings of

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Japan brewer Kirin buys Australia vitamin giant Blackmores

Japanese brewer Kirin has agreed to buy Australian vitamins maker Blackmores for A$1.88bn ($1.24bn; £999.4m). The move comes as Kirin expands into healthcare in the face of shrinking beer sales in its home country and increasing regulation of alcohol. “The acquisition of Blackmores is highly complementary to our existing Health Science business,” it said. The deal also gives Blackmores an

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