JAPANESE brewer Kirin Holdings said on Friday it will sell its Kentucky bourbon brand Four Roses to E&J Gallo Winery of the United States for up to $775 million.
Kirin, which bought Four Roses in 2002, said it was looking to complete the deal in the second quarter.
The sale will allow Kirin to “reallocate its resources toward businesses that could further grow by leveraging Kirin’s own organizational capabilities,” Kirin said, without elaborating.
The Financial Times reported in October that Kirin was looking to sell Four Roses to pivot from the struggling spirits sector in Japan and focus on its health care business.
Kirin owns a beverage and beer business, and has a pharmaceutical subsidiary called Kyowa Kirin.
A Gallo spokesman said no changes were planned to Four Roses’ operations, production or distribution. Kirin said the brand has grown strongly since its acquisition, primarily in the US market.