Suntory to buy Beam for US$16 billion

Yamazaki-copper-stills---different-styles-and-shapes-LR

The board of Japanese company Suntory has agreed to buy Beam Inc, in a deal reportedly worth some US$16 billion. Reuters is reporting that Suntory, which owns Yamazaki, Bowmore and Midori among a host of other brands, made the decision yesterday after just two months of negotiations with Beam Inc.

The board of Beam Inc, which owns Jim Beam, Makers Mark, and a host of other whiskey brands, has approved the deal but  it still needs to be put to shareholders of the company before it can be finalised.

The deal would make the privately held Suntory the third biggest spirits-maker in the world, Reuters suggests.

“I am delighted that we can announce this agreement with Beam, a company with a portfolio of leading global brands, including Jim Beam and Maker’s Mark, and a strong global distribution network,” said Nobutada Saji, president and chairman of Suntory’s board. “I believe this combination will create a spirits business with a product portfolio unmatched throughout the world and allow us to achieve further global growth. We are particularly excited about the prospect of working more closely with Beam’s excellent management and employees who will play an integral part in the growth of the business.”

ADVERTISEMENT
 

Said Beam Inc’s president and CEO: “Together we will be a global leader in distilled spirits with the #3 position in premium spirits and a dynamic portfolio across key categories. With particular strength in Bourbon, Scotch, Canadian, Irish and Japanese whisky, the combined company will have unparalleled expertise and portfolio breadth in premium whisky, which is driving the fastest growth in Western spirits.”

 

No Comments Yet

Leave a Reply

Your email address will not be published.