Lion Nathan Ltd’s Auckland brewery site adjacent to the upscale Newmarket shopping and apartment precinct could be put up for sale.
The brewer revealed today that the site is under review as it reported a decline in profit in a New Zealand business it is continuing to restructure.
…5ha in area and could sell for as much as $100 million to developers of apartments, offices and retail space.
…the site was “extremely valuable”.
…company faced a “50-year decision” as it considered whether to reinvest in the brewery or move on.
…company was talking up its New Zealand business, saying five of its six “power brands” here recorded growth …. while sales of Lion Red declined.
…Independent was a profitable business that could give Lion Nathan some scale but the integration of the two business cultures would be challenging and other people were interested in Independent.