Japanese brewer Kirin has put its Kentucky bourbon brand Four Roses up for sale for $1 billion, the Financial Times reported on Friday, citing people familiar with the matter.
The company has been working with advisers from UBS to weigh interest from potential buyers in recent weeks, with first-round bids expected as early as next month, the newspaper said.
Reuters could not immediately verify the report.
Kirin declined to comment, while UBS did not immediately respond to Reuters’ request for comment.
Kirin Holdings is a conglomerate that owns a beverage and beer business and also has a pharmaceuticals subsidiary called Kyowa Kirin.
The sale comes as Kirin is looking to pivot from the struggling spirits sector in Japan to focus on its healthcare business, the report said, adding that there were no guarantees that a deal would emerge.
Reuters
