Furthermore, the consolidated subsidiary Yebisu Garden Place Co. Ltd. will be renamed Sapporo Real Estate Co. Ltd.
Explaining the purpose of the integration, a company release noted, “In March 2011, Sapporo Holdings acquired additional stock of Pokka Corporation, making it a consolidated subsidiary, and since that time, continued negotiations for integration, to realize a domestically and internationally competitive food value creation group.
“In order to strengthen competitive edge and enhance corporate value under severe market competition, Sapporo Holdings believes it is best to integrate food and beverage business lines and face challenges as a new company and thus made the decision to integrate Sapporo Beverage Co. Ltd. and Pokka Corporation.
“Going forward, Sapporo Holdings is determined to develop the food and beverage business lines into an essential business pillar in the group comparable to alcoholic beverage and real estate business lines and establish a new food value creation group that can offer products to every generation with a target of 170 billion yen in sales and 8.5 billion yen in operating income in 2016.”
The integration is planned for January 2013, and an overview of the combined companies will be announce at a later time.
From the November 29, 2011, Prepared Foods' Daily News.