Tokyo, March 12 - Asahi Breweries , Japan's largest beer maker, said on Thursday it has agreed to buy the Australian beverage business of British confectionary maker Cadbury Plc for A$1.185 billion ($769.5 million).
Asahi and rival Japanese breweries have been aggressively acquiring businesses in Oceania and Asia to seek growth outside their mature home market.
Asahi and Cadbury announced the deal for Schweppes Australia in December, but Coca-Cola Co had an option to negotiate for the business which expired this month.
Asahi said the price was before adjustment for Schweppes' cash and debts, and the actual acquisition cost would be determined later.
In January, Asahi, the maker of Super Dry beer, agreed to buy a 19.9 percent stake in Tsingtao Brewery of China from Anheuser-Busch InBev for $667 million. ($1=1.540 Australian Dollar)