Japanese beverages giant Asahi Group Holdings has decided to offload a restaurant business in its domestic market.
The company's Japanese leg, Asahi Group Japan, agreed to sell its Nadaman restaurant chain to local conglomerate Onodera Group earlier this month, a statement from the latter company confirmed.
Financial terms of the deal, expected to close in September, were not revealed.
Established in 1830 as a Japanese restaurant in Osaka, Nadaman today operates restaurants, deli stores and contract food services across Japan.
Its restaurants are also present in China, Hong Kong, and Malaysia.
"By collaborating with Nadaman, which has a major social mission of passing on Japan's food culture, we believe we can expect to expand Japan's food culture and create synergy effects", Onodera said in its statement.
The group owns a variety of businesses, including the contract food company LEO Corporation, Japanese baked good retailer Little Happiness Co., and sushi maker Ginza Onodera, which is present in Japan, the US and China.
In a statement, Asahi said: "Asahi Group Japan plans to focus on its alcoholic beverages, soft drinks, and food businesses. Onodera Group sees value in the tradition and brand of Nadaman... and has the will and knowledge to further develop Nadaman".
The move supports the Peroni owner's focus on "sustainable growth of existing businesses centered on beer", outlined in its long-term strategies on its website.
In an interview last year, CEO Atsushi Katsuki told Just Drinks that he expected the beer category to continue to premiumise.
"The premium category is doing relatively well compared to the ‘economy’ and ‘mainstream’", he said.
"Beer is an affordable luxury. People will find satisfaction in paying a little bit more in getting something premium. I don’t think this big trend is going to change despite the pandemic and the issue of Ukraine and this is very encouraging.”
Asahi is also laser-focused on growing its non-alcoholic beer portfolio, aiming to increase sales of "non- and-low alcohol" by 20% by 2025.
