Jim Beam, Maker’s Mark Bought by the Japanese
Sounds like a rare merger that could work.
Beam, the maker of Jim Beam and Maker’s Mark bourbons along with other liquor brands, has agreed to be acquired by Japan’s Suntory Holdings Ltd. for approximately $13.62 billion.
Shares of the spirits maker jumped in Monday premarket trading.
Suntory has a portfolio of spirits, with whiskies including Yamazaki and Hakushu as well as Midori liqueur and other beverages. It already distributes Beam’s products in Japan. Beam distributes Suntory’s products in Singapore and other Asian markets.
Suntory President and Chairman Nobutada Saji said in a statement that the acquisition will help Suntory further its global growth.
The combined company is expected to have annual sales of spirits products of more than $4.3 billion. . .
- Greg Pollowitz