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Japan's Suntory is buying JIM BEAM for $13 BILLION

Melensdad

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Well two iconic American brands are no longer American.

Maker's Mark and Jim Beam, owned by BEAM Distillery are being sold to Suntory Spirits. Sales of brands from company to company in the Food and Spirits industry are common, but something about selling these to a foreign company seems wrong. At least the jobs stay here, the spirits will continue to be made here in the US.

FULL STORY at this LINK => http://news.yahoo.com/suntory-buying-spirits-maker-beam-13-62b-121930029--finance.html

DEERFIELD, Ill. (AP) — 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.

Beam President and CEO Matt Shattock and the Deerfield, Ill., company's current management will continue to run the business.

Suntory will pay $83.50 per share, a 25 percent premium to Beam's Friday closing price of $66.97. The companies put the deal's value at about $16 billion, including debt.

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