Suntory Completes Beam Acquisition, Will Create U.S.-Based Beam Suntory UnitMay 1, 2014
Suntory has completed its $16 billion acquisition of Beam Inc., and will now move to intregrate the two drinks businesses. Suntory says it will form a new entity—called Beam Suntory—by the end of the year. Beam Suntory will be headquartered in Beam’s current Deerfield, Illinois base, and will be helmed by Matt Shattock, who has been CEO of Beam since 2009 and is now chairman of the new group.
The blockbuster deal was originally announced in January when Beam management conditionally accepted Suntory’s $83.50 per-share offer. The formation of Beam Suntory will be the second-largest U.S. spirits marketer, with a portfolio led by Jim Beam, Pinnacle, Sauza and Maker’s Mark—all of which have enjoyed marked growth of late.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.