Suntory buys Beam for £9.7 billion

13 January, 2014

Japanese supplier Suntory Holdings has bought US group Beam in a £9.7 billion deal that creates the world’s third-largest spirits company.

It will pay Beam’s shareholders £50.76 per share – a premium of 25% on its last closing price – and take on Beam’s existing debt.

The new Suntory stable will include Jim Beam and Maker’s Mark bourbons, Teacher’s Scotch, Courvoisier cognac and Sauza tequila, along with existing Suntory brands Yamazaki, Hakushu, Hibiki and Kakubin, all Japanese whiskies, and Bowmore Scotch, Midori liqueur and soft drinks Lucozade and Ribena.

Suntory intends to fund the purchase through cash on hand and fully committed financing from The Bank of Tokyo-Mitsubishi UFJ.

Briton Matt Shattock, Beam’s president and chief executive, and his management team will continue to lead the business, which will be managed from Beam’s headquarters near Chicago.

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