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The Dumbest Corporation of the Month: Asahi Group Holdings Ltd

Posted by te2ataria on July 7, 2011

Sent by a reader in the Eruption City

Japan’s Asahi Group Bids for New Zealand Charlie’s Group !!!

Japanese companies used to be a lot smarter. Now they are stricken by insanity disorder.

The latest act of desperation and stupidity by a Japanese corporation is the offer by Asahi Group Holdings Ltd. to acquire New Zealand juice and beverages company Charlie’s Group Ltd. at a price of NZ$129.30 million [$107.38 million.]

Asahi Beverages New Zealand Ltd., the local subsidiary of the Japanese company, is planning to acquire all of the shares of Charlie’s.

Charlie’s major shareholders, including its founders and the company’s board of directors, couldn’t believe their bust-to-boom luck.

Charlie’s accountants had reported a 22 percent increase in net revenues from the previous year period to NZ$11.6 million.

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2 Responses to “The Dumbest Corporation of the Month: Asahi Group Holdings Ltd”

  1. pockets worn thin said

    Strange to think that Asahi would want to buy that company. They moved into Australia in January. I always see the Charlies drinks in a small section in the food store with a great deal of sediment towards the bottom, sometimes put on sale because only tourists buy them. Very nice non-artificial product, but it’s not for poor people (of which there are many here and growing). As with the other top of the line flagship brand products such as the merino wool and lamb, most Kiwis cannot even afford them in New Zealand, the good stuff is all for the foreigners.

  2. te2ataria said

    You’re quite right. It seems like a classic sting operation … Johnny-san come lately!

    A couple of pundits tell us that Charlies overall share of the beverages market is very low indeed. And that the company is actually “loss-making.” They also said the company was hugely “overvalued.” They couldn’t believe anyone would pay more than a 7-figure sum for the company [“generous valuation”.]

    Since the kiwis can’t afford the brand and the Aussies aren’t so hot on the idea …

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