Law firms find roles on Asahi acquisition

The $364 million acquisition will move the drink company up the ranks, however, turning it into Australia’s second largest soft drinks maker.

Norton Rose Australia is advising Asahi on the deal, lead by partners Shane Bilardi, Georgette Leader and Andrew Fisken.

The acquisition is aimed at bolstering Asahi's global beverage business, the Japanese company said in a statement.

Asahi President Naoki Izumiya told Reuters in an interview earlier this month that the firm would have ¥800 billion yen ($A10.7 billion) on tap for acquisitions over the next five years as it looks for growth outside its shrinking domestic market.

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"Australia is a rare growth market among developed nations and the number of players is also few," Asahi President Naoki Izumiya said at a news briefing in Tokyo.