HAH ALAM, May 15, 2015 – Carlsberg Malaysia announced that it has agreed to the sale of its 70% shareholding in its subsidiary Luen Heng F&B Sdn. Bhd. (LHFB) to Capriwood Sdn. Bhd for a total consideration of RM19.5 million. The strategic intents of the brewer’s move in divesting its stake in LHFB is aligned with its parent company Carlsberg Group’s strategy to ‘Focus on beer as core’ and to maximize the return on capital invested.
On completion of the transactions announced today, Carlsberg Malaysia ceases to be a shareholder of LHFB, an established distributor and supplier of imported beers, wines and spirits.
By focusing on beer and divesting its wine and spirits businesses, the brewer will continue to sell selected imported beers by LHFB in order to offer the most comprehensive locally-brewed and imported range of beers to its customers and consumers. The long-standing business synergies between the brewer and the distributor shall continue going forward.
Proceeds from the sale of shareholding will be re-invested to our commercial activities behind our core beer brands and are not expected to have a material impact on Carlsberg Malaysia’s 2015 second quarter results.
“Carlsberg Malaysia has, over some 45 years, evolved from a beer company with one flagship brand to a brewer with dynamic portfolio of international beer, stout and cider brands. To accelerate growth and intensify our focus on beer, stout and cider innovations, we recognize that it is time to prioritize on our core business and make sound investments that deliver higher return of capital investment for our shareholders,” said Henrik Juel Andersen, Managing Director of Carlsberg Malaysia.