Suntory Buys Beam for $16 Billion, Gets Maker's Mark and Jim Beam

Japan's Suntory Holdings said it will buy liquor company Beam for $16 billion, including debt -- receiving iconic American brands like Jim Beam and Maker's Mark.

Author:: Brittany Umar
Publish date:: Jan 13, 2014 10:50 AM EST

Japan's Suntory Holdings said it will buy liquor company Beam for $16 billion, including debt -- receiving iconic American brands like Jim Beam and Maker's Mark. The whiskey and beer maker will pay $83.50 per share, which is a 25% premium to Beam's closing price on Friday of $66.97. Suntory President and Chairman Nobutada Saji said in a statement the acquisition will help the company further its growth around the world. The combined company is expected to generate annual sales of more than $4.3 billion, making it the world's third largest premium spirits entity, according to Beam President and CEO Matt Shattock.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.