A consortium led by KKR and PAG has agreed to acquire Sapporo Holdings’ real estate subsidiary, valued at about $3 billion, as the Japanese beer maker seeks to streamline its business.
The deal to buy Sapporo Real Estate will be completed in stages over three years, with the first tranche of a 51% stake expected to be completed next June, the companies said in a joint statement on Wednesday.
The transaction has an enterprise value of 477 billion yen, equivalent to $3.05 billion, including debt, Sapporo Holdings said in a separate disclosure.
Sapporo’s real estate business has a portfolio of commercial, office, hotel and residential assets located primarily in Ebisu, Tokyo, and Sapporo.
The Tokyo-based company said the sale is part of its strategy to focus on alcoholic beverages, with the proceeds being invested in growing its business.
Sapporo Real Estate will be an independent company upon completion of the deal, according to the statement. The company intends to “pursue sustainable improvement of its real estate and corporate value over the medium to long term” under new owners PAG and KKR.
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New York-based KKR is making its investment primarily through its Asian real estate strategy. The deal is subject to regulatory approval.
Shares of Tokyo-listed Sapporo Holdings rose as much as 5% on Wednesday before closing up 3.65%.
Earlier, the company also released projections for the full year 2025, maintaining a net profit forecast of 16.05 billion yen (around US$103 million) between January and December.
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