TOKYO, Nov. 15 (Kyodo) — Asahi Group Holdings Ltd. said Friday it will acquire bottled water operations in Indonesia to boost sales in the Southeast Asian country's growing market.
Under the roughly 18.9 billion yen deal, Asahi Group will buy Indonesia's Tirta Bahagia Group, which produces the Club brand of bottled water and is the second biggest player in the Southeast Asian country's bottled water market, the brewer said.
Asahi Group will acquire TB Group's 19 factories and 22 group firms, aiming to seal the deal by March next year.
The Tokyo-based company said it plans to launch tea products in Indonesia by the end of this year, and coffee and other drinks starting next year.