Major Australian brewer Lion Pty. Ltd., a unit of brewer Kirin Holdings Co., said Monday it will take full control of Australian boutique brewer Little World Beverages Ltd.
The deal is valued at about 256 million Australian dollars.
Lion, which already has a 36.3 percent stake in Fremantle-based Little World, will acquire the shares it does not already own for AU$5.30 Australian each, 39.8 percent higher than Little World’s closing stock price Friday.
Lion will use its own distribution network to expand sales of Little World products, such as Little Creatures.