S
apporo Holdings plans to sell its real‑estate arm to a consortium headed by KKR for 400 billion yen (about $2.6 billion), NHK reported. The move is part of a strategy to focus management on the core beer business, with the company “negotiating price and terms with several investment funds,” the broadcaster added.

    The portfolio includes Tokyo’s Yebisu Garden Place, a popular destination that houses the former Yebisu Brewery, upscale restaurants, and retail outlets. KKR and Asia‑based PAG will acquire the site, aiming to boost profits by attracting new tenants and potentially redeveloping the complex.

    Proceeds from the sale will be reinvested in Sapporo’s brewing operations and other key areas to strengthen the company’s core value. Following the announcement, Sapporo shares rose 2.86 %. Neither Sapporo nor KKR responded to CNBC’s request for comment.

    This is not the first attempt to divest the real‑estate business. In October, Nikkei reported that Sapporo had granted exclusive negotiating rights to KKR and PAG, but the talks were abandoned the next month after the parties could not agree on a price. The properties required extensive, costly repairs due to aging infrastructure and safety upgrades. Sapporo then opened the sale to other buyers, reportedly engaging a consortium of Lone Star Funds and Kenedix.