Japanese brewer Kirin Holdings has agreed to sell its Kentucky bourbon brand Four Roses to US-based Gallo Winery for up to $775m.

The sale price also includes an earn-out fee of which $50m will be paid out if the brand hits a performance target.

The move will allow Kirin to "reallocate its resources toward businesses that could further grow by leveraging Kirin’s own organisational capabilities,” Reuters reported.