M&A Deal Summary

KKR and Affinity Equity Partners Acquire Oriental Brewery

On July 6, 2009, private equity firms KKR and Affinity Equity Partners acquired beverage company Oriental Brewery from Anheuser-Busch InBev for 1.8B USD

Acquisition Highlights
  • This is KKR’s 1st and Affinity Equity Partners’ 1st transaction in the Beverages sector.
  • This is KKR’s 46th and Affinity Equity Partners’ largest (disclosed) transaction.
  • This is KKR’s 1st and Affinity Equity Partners’ 7th transaction in South Korea.
Investment Fate
  • Oriental Brewery was sold to a publicly-traded strategic buyer in 2014 for 5.8B USD.

M&A Deal Summary

Date 2009-07-06
Target Oriental Brewery
Sector Beverages
Buyer(s) KKR
Affinity Equity Partners
Sellers(s) Anheuser-Busch InBev
Deal Type Divestiture
Deal Value 1.8B USD

Target

Oriental Brewery

Seoul, South Korea
website
Oriental Brewery is a provider of breweries in South Korea with a dominant position in the Seoul Metropolitan Area and with a strong portfolio of brands including Cass, OB Blue and Cafri.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 72 of 424
Sector (Beverages) 1 of 2
Type (Divestiture) 13 of 49
Country (South Korea) 1 of 6
Year (2009) 3 of 7
Size (of disclosed) 46 of 94
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-15 China Modern Dairy

Maanshan City, China

China Modern Dairy is focused on raising dairy cows and selling raw milk to branded dairy companies for processing into consumer dairy products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-05 Broadcom

San Jose, California, United States

Broadcom is a designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products. Broadcom was founded in 2018 and is based in San Jose, California.

Sell -
Buyer

Affinity Equity Partners

Hong Kong, China

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Affinity Equity Partners is an independent private equity firm focused on traditional buyout and control oriented investments across Asia-Pacific valued up to US$1 billion. Sectors of interest include businesses in consumer-related goods and services, value-added manufacturing, healthcare, financial services and business services. Affinity prefers companies with an established track record as well as proven, consistent earning power and cash flow generating ability. Affinity will not consider investments in real estate, biotechnology, tobacco, oil and gas exploration, and weaponry development and sales. Affinity Equity Partners was spun out of UBS Capital Asia Pacific in 2004 and is headquartered in Hong Kong.


DEAL STATS #
Overall 13 of 43
Sector (Beverages) 1 of 1
Type (Divestiture) 1 of 6
Country (South Korea) 7 of 18
Year (2009) 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 RT Sourcing Asia

Quarry Bay, China

RT Sourcing Asia Ltd enages in International sourcing, product design and development company in Hong Kong

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-01 Beijing Leader & Harvest Electric Technologies

Beijing, China

Beijing Leader & Harvest Electric Technologies Co. Ltd. ("Leader Harvest") designs, manufactures and distributes medium-voltage variable frequency drives ("MV VFDs") for motors used in the power generation, metallurgical, and cement sectors. Leader Harvest is the largest supplier of MV VFDs in China in terms of revenue. Leader Harvest also supplies inverters to wind turbine manufacturers in China.

Buy $200M

Seller(S) 1

SELLER

Anheuser-Busch InBev

Leuven, Belgium

website


Category Company
Founded 1366
Sector Beverages
Employees164,000
Revenue 46.9B USD (2020)
DESCRIPTION

Anheuser-Busch InBev is a multinational brewing company. The Company primarily markets and distributes beer, but also produces and markets soft drinks. Anheuser-Busch InBev's brands include Beck's, Budweiser, Bud Light, Corona, Castle, Castle Lite, Hoegaarden, Leffe, Aguila, Antarctica, Brahma, Cass, Chernigivske, Cristal, Harbin, Jupiler, Klinskoye, Michelob Ultra, Modelo Especial, Quilmes, Victoria, Sedrin, Sibirskaya Korona, Skol, Stella Artois. Anheuser-Busch InBev was incorporated in 1366 and is based in Leuven, Belgium.


DEAL STATS #
Overall 1 of 7
Sector (Beverages) 1 of 4
Type (Divestiture) 1 of 7
Country (South Korea) 1 of 1
Year (2009) 1 of 2
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-15 Anheuser-Busch Companies

St. Louis, Missouri, United States

Anheuser-Busch is an American brewing company. It is a wholly owned subsidiary of Anheuser-Busch InBev and operates 13 breweries in the United States.

Buy $52.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-07 SeaWorld

Orlando, Florida, United States

SeaWorld is a theme park and entertainment company focused on delivering personal, interactive and educational experiences that blend imagination with nature and enable customers to celebrate, connect with and care for the natural world. SeaWorld owns or licenses a portfolio of globally recognized brands including SeaWorld, Shamu and Busch Gardens. The Company's theme parks feature a diverse array of rides, shows and other attractions with broad demographic appeal which deliver memorable experiences and a strong value proposition for guests. SeaWorld was formed in 1959 and is based in Orlando, Florida.

Sell $2.3B