Lexington, KY - The Japanese company Suntory Holdings Limited has announced plans to acquire Deerfield, Illinois-based Beam Inc., the maker of Jim Beam brand bourbons as well as Maker’s Mark, for $16 billion.
Suntory will acquire outstanding shares of Beam for $83.50 per share, which is 25 percent higher than Beam’s January 10th closing price of $66.97.
With this acquisition, the resulting company will be the third largest premium spirits company in the world, with estimated annual net sales of spirit products exceeding $4.3 billion. In addition to Jim Beam and Maker’s Mark, its combined portfolio of leading brands will include bourbons Knob Creek, Old Crow, Baker’s, Booker’s and Basil Hayden’s, Teacher’s and Laphroaig Scotch whiskies, Canadian Club whiskey, Courvoisier cognac, Sauza tequila and Pinnacle vodka, and Suntory’s leading Japanese whiskies Yamazaki, Hakushu, Hibiki and Kakubin, Bowmore Scotch whisky and Midori liqueur.
Matt Shattock, Beam’s president and CEO, will continue to lead the business, along with the current Beam management team, which will be located at Beam’s headquarters outside Chicago.
The transaction is expected to close in the second quarter of 2014, subject to shareholder and regulatory approval.