How China’s Haier and Japan’s Asahi used overseas M&As to supercharge revenue growth: Bain study
- Haier grew overseas revenue by 1,247 per cent through three deals, while Asahi earned 551 per cent overseas more from eight deals from 2012 to 2021
- 22 Chinese companies included in the study saw overseas revenue surge 49 per cent to US$58 trillion in 2021, compared with four years earlier
“Cross-border M&A was the fastest way for Asia-Pacific consumer products companies to build business overseas,” analysts led by Gino Dizon said in the report on Monday.
Chinese home appliances giant Haier, which closed three deals, was the most successful. It increased overseas revenue by 1,247 per cent to US$18 billion over the course of 10 years.
It was followed by Asahi and CJ CheilJedang. The Japanese food and drinks giant closed eight deals and earned 551 per cent more revenue offshore, while the South Korean food manufacturer grew revenue by 337 per cent with four deals.
Chinese companies with a domestic focus such as Gree, Kweichow Moutai and Wuliangye Yibin, which did not make any cross-border deals, saw their overseas revenue increase by less than 10 percentage points.
