Kirin lifts on French spirits deal


San Miguel and Kirin shook hands on a deal in December 2001 for the Japanese brewer to take a 15 percent stake

TOKYO, Japan (CNN) -- Shares in Kirin Brewery are higher Thursday after Japan's second-largest beer maker said it had bought a 32.4 per cent stake in French food services group SIFA.

The deal, which Japanese media estimated would cost 20 billion yen ($155 million), makes Kirin SIFA's biggest shareholder and will help Kirin expand its links with the French liquor group Pernod Ricard.

SIFA holds a 10.2 percent stake in Pernod Ricard, the world's No. 3 spirits maker.

Near midday Thursday, Kirin shares were up 1.7 percent to 1006 yen.

Kirin, which lost its status as Japan's biggest beer maker to Asahi Breweries last year, has been seeking to diversify offshore.

It already holds a 46 percent stake in the No.2 Australasian beer and wine group Lion Nathan, and in December last year it said it would pay $540 million for a 15 percent stake in the Philippines' biggest beverages group, San Miguel.

Also last year Kirin bought the Four Roses bourbon brand from Pernod Ricard and Diageo, and the food business of Takeda Chemical Industries.