Japan's Asahi set to buy Aussie beer brands Carlton and Victoria Bitter for $16 billion

Aussie beer brands Carlton, Victoria Bitter and Great Northern are set to be owned by Japanese brewer Asahi by next year.

Source: AAP

Australian-based beer company Carlton and United Breweries is being bought by Japanese beverage giant Asahi for $16 billion.

Melbourne-based Carlton is the brewery behind major brands Victoria Bitter, Carlton and Great Northern.

The deal caps off a multitude of acquisitions which ultimately saw Belgian brewery giant Anheuser-Busch InBev own Carlton in 2016.

In 2004, Carlton was bought by Foster’s, which was later acquired by SABMIller, and which in turn was bought by Anheuser-Busch InBev.

The company in a statement on Friday said it would use the $16 billion to pay down debts. 

The transaction is expected to close by the first quarter of 2020.