Suntory Holdings Takes 10% Stake In Edrington For Undisclosed SumJanuary 28, 2020
Edrington and Suntory Holdings announced an agreement this morning under which Suntory will acquire 10% of Edrington. The deal formalizes a longstanding alliance that dates to the early 1990s.
Suntory already holds a stake in The Macallan, Edrington’s leading brand, and Suntory serves as Edrington’s primary distributor in a number of markets around the globe, including Japan, Germany, Canada, and South Africa. The two companies also operate joint ventures in the U.K., Spain, and Russia. Terms of the deal were not disclosed.
Edrington’s fiscal year is due to end in March. In its last annual earnings report, the company’s revenue grew by 9% to £679.8 million ($884.3m), driven by its single malt portfolio. Highland Park, the Glenrothes, and The Macallan all reported double digit growth.
Suntory Holdings subsidiary Beam Suntory is the third-largest spirits marketer worldwide, according to Impact Databank, with 2018 volume of nearly 62 million cases. Edrington has global volume of an estimated 8 million cases.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.