Kirin Holdings Co. may seek control of its Philippine beer venture after dropping a planned merger with Suntory Holdings Ltd. that would have created the world's fifth-biggest food and drinks maker.
"We'd like to take a majority" of San Miguel Brewery Inc. from the current 48 percent if its parent is willing to sell, Senji Miyake, who will become Kirin's president this month, said in an interview late Thursday in Tokyo. "We're not in a hurry," he said, declining to say whether they're in talks.
Japan's beverage makers are accelerating overseas expansion to tap wider margins and offset falling domestic beer sales. The brewer of Kirin Lager and Ichiban Shibori has spent about $7 billion on overseas purchases in the past three years, including taking Lion Nathan Ltd. private. Kirin on Feb. 8 ended talks to buy Suntory, balking at the $10 billion asking price.