Schweppes manufacturer buys Jim Beam. The Japanese manufacturer Schweppes Suntory buys for $ 16 billion ( 11.78 billion euros ) the U.S. whiskey producers Beam and rises to become the world's third-largest spirits group . The transaction should be completed in the second quarter , both companies announced today.
The directors have approved the project , respectively , but the deal is still pending due to regulatory authorities and Beam shareholders. The purchase price consists of $ 13.6 billion in cash and the assumption of $ 2.4 billion debts.
Beam stock shoots up
On the stock market, the plans were hailed, the beam shot premarket share about 25 percent higher. For Beam Group includes brands such as Jim Beam, Canadian Club, Laphroaig Scotch Whisky.
Suntory went public last summer. In 2009 the Group acquired the European Orangina Schweppes lemonade manufacturer. As consumers demand in Japan is weakening, the Group of Osaka is abroad on a shopping spree.
In September Suntory acquired for 1.6 billion euros soft drink business of the British pharmaceutical company GlaxoSmithKline. These include sports and energy drinks and Ribena fruit juices. On the spirits market, the Japanese now compete with industry giants such as Diageo, Pernod Ricard and Remy Cointreau.
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