Suntory Holdings Limited (Suntory) and Beam Inc. (NYSE: BEAM) today announced that Suntory completed the acquisition of all outstanding shares of Beam for $83.50 per share on Wednesday, April 30, 2014 (U.S. Central Daylight Time).
As a result of the transaction, Beam has today been renamed Beam Suntory Inc. (Beam Suntory). The new company intends to integrate the Spirits business of Suntory Liquors Limited before the end of this year. The transaction creates a company with the strong #3 position in the global premium spirits market. Beam Suntory will be headquartered in Deerfield, Illinois and led by Chairman and Chief Executive Officer Matt Shattock, who has been CEO of Beam since 2009.
Looking ahead, Beam Suntory aims to achieve growth in markets worldwide, including the United States, the world’s largest spirits market, by leveraging its combined portfolio of leading brands, and its strengthened global distribution network.
“By combining the world leader in Bourbon and Japan’s leading spirits company, we have created a stronger global business with an even better premium portfolio,” said Matt Shattock, Chairman & CEO of Beam Suntory. The company’s portfolio is led by its flagship brands Jim Beam and Yamazaki, as well as world renown premium brands including Maker’s Mark, Knob Creek, Hakushu, Hibiki, Kakubin, Teacher’s, Laphroaig, Bowmore, Canadian Club, Courvoisier, Sauza, Pinnacle and Midori.“We believe the new Beam Suntory will grow by pursuing the global strategy that made Beam so successful,” Shattock said. “We will be focused on continuing our momentum, growing in developed and emerging markets, and building on our combined strengths. Those strengths include a dynamic portfolio across key categories, powerful routes to market and passionate people. I’m particularly excited about what brings us together – a strong cultural fit based on the entrepreneurial and innovative spirit of two companies with common values and proud heritages rooted in multi-generational family businesses. We look forward to learning from each other and to creating a future of exciting growth for our business and opportunities for our people.”