JAPANESE beer giant Kirin Holdings said on Tuesday it has started a strategic review of its Australian Lion-Dairy and Drinks unit, looking at a possible sale among its options.
Lion owns major Australian beer brands including Tooheys, Little Creatures, James Squire and XXXX, as well as PURA milk and Big M flavoured milk.
"It is appropriate at this point in time to consider the best pathway forward to maximise its sustainable growth potential for the future," Kirin said in a statement.
It also said options included retaining the unit and investing in it and that no decision has been made yet.
Kirin has been reviewing its business portfolio, which spans alcohol, beverages, food and drugs at home and overseas.
Last year, it sold its money-losing Brazilian beer business - bought for $US3.9 billion in 2011 - to Heineken for $US1.09 billion.