Asahi's Better Drinks Co writes off $42M of goodwill, posts full-year loss

Mon, 20 Jun 2016

By Jonathan Underhill June 20 (BusinessDesk) - The Better Drinks Co, which includes New Zealand assets bought by Japanese brewer Asahi Group during an acquisition spree in 2011, has taken a $42.3 million impairment to write off all of its goodwill, resulting in an annual loss. Better Drinks includes Charlie's Group, which Asahi acquired in 2011 for 44 cents a share, valuing the listed juice maker at $129 million. The price amounted to a 57 percent premium to Charlie's stock before the deal was announced that year. The New Zealand compa...

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