Suntory Mulls Moving Liquor Business to U.S. After Beam Buyout
TOKYO, April 19 (Kyodo) — Suntory Holdings Ltd. is considering moving its liquor and beer business headquarters to the United States after completing the buyout of U.S. distiller Beam Inc., sources familiar with the matter said Saturday.
The Japanese beverage company aims to boost its sales of whisky and other liquor products globally through the acquisition of Illinois-based Beam for $16 billion, as the domestic market continues to shrink. Suntory is expected to make Beam its subsidiary following the completion of the buyout by early May.
Yasunori Aiba, president of Suntory Liquors Ltd., will likely be appointed as a board member of the new subsidiary.
The acquisition of Beam is expected to make Suntory the third largest spirits company in the world.