Suntory buys Jim Beam drinks group in $16bn deal
Deal set to create world’s third-biggest premium spirits company
Tuesday 14 January 2014
Suntory is buying two-centuries-old US firm Beam in a $16 billion deal that unites spirits including the eponymous whisky, Teacher’s, Courvoisier cognac and Sauza tequila with Japan’s best-selling Yamazaki whisky to create the world’s third-biggest premium spirits company.
The combined company will boast spirits sales of $4.3 billion a year.
The $83.50-a-share deal is at a 25 per cent premium to Friday’s close. It gives Suntory greater exposure to the US, the world’s most profitable spirits market, as well as the chance to grow Beam in Asia, where demand for premium spirits is growing rapidly. Suntory bought Orangina Schweppes for $3 billion in 2009 and acquired the Lucozade and Ribena brands from GlaxoSmithKline for $2.1 billion last year.
Food group Hain Celestial today bought UK firm Tilda Rice, owned by the Thakrar family, for $357 million.
- 1 Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 2 Disney announces new female-led film Moana
- 3 Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Video: Boxer Vido Loncar brutally assaults referee following defeat
Chicago voter tells Obama 'don't touch my girlfriend' – Obama stays super smooth
Renee Zellweger on plastic surgery reports: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
Isis releases first video showing stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
Oscar Pistorius: The brutal prison life that awaits disgraced athlete
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Support for EU membership 'at highest level since 1991 with most Brits wanting to stay in'
iJobs Money & Business
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£20000 - £25000 per annum + OTE £Competitive: SThree: SThree Group and have be...