Asahi launches takeover offer for Charlies Group

Japan’s Asahi Beverages has offered 44c a share for NZX-listed Charlie’s Group, valuing the juice company founded by Stefan Lepionka and former All Black Marc Ellis, at $129.3 million.

Charlie’s major shareholders, including the founders, representing 52.17% of the Charlie’s shares, have agreed to accept the offer (Mr Lepionka holds 14.11% of the company, Mr Ellis 13.82%, worth $18.2 million and $17.9 milllion with the 44c a share offer; the company's shares [NXZ: CHA] closed at 28c on Friday.).

The all cash offer, which represents a 57% premium to Friday’s closing share price of 28c, is subject to a number of conditions, including overseas investment office approval.

In a statement this morning Charlie’s said it received an approach by Asahi and agreed to a short period of due diligence.

Asahi then entered into a lock in agreement with founders Mr Lepionka, Mr Ellis and Simon Neal, shareholder Collins Asset Management and director Tim Cook.

Mr Lepionka said the takeover offer “represented a great outcome for the business and its brands at this stage of the group’s lifecycle.”

“As a proud New Zealand company, we have fought hard to take Charlie’s to the world, and we continue to do so. To take Charlie’s to the next level, our brands will benefit from the substantial resources that Asahi brings to the table. 



“Asahi admires our team and recognises the value in keeping Charlie’s as it is, to nurture our ‘honest’ ideology and reputation for innovation.”

Charlie’s said if Asahi was successful in its takeover bid the company would continue to operate the Charlie’s business as a standalone business, while supporting the existing management team.

Managing director of Asahi Group Holdings, wholly owned subsidiary, Schweppes Australia Pty, David Beguely said:

“We are thrilled to be part of this very exciting venture and are excited to partner with such an innovative organisation with quality, premium brands.

“Charlie’s complements the Schweppes Australia business very well. It particularly enhances our position in the premium beverage segments as well as providing a foothold in the New Zealand market.”


“We are very much looking forward to working with Stefan and Charlie’s to help grow and expand the reach of their brands.”