Saputo buys Kirin’s cheese business in Australia for $179-million: report

The Japanese newspaper said the brewer had yet to find a buyer for the unprofitable unit, which has been facing rising juice prices, tougher competition and a weakening currency.Media representatives for Kirin and Saputo did not immediately respond to requests for comment.

Kirin had previously said the company would not agree to divest the unit, which it acquired in 2007, at any price simply to achieve a sale. The Japanese brewer has been restructuring and reviewing its business portfolio, which spans alcohol, beverages, food and drugs at home and overseas. Last year, it sold its money-losing Brazilian beer business - bought for $3.9-billion in 2011 - to Heineken for $1.09-billion.Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience.

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