Suntory Liquors Limited, which includes Yamasaki, Hakushu, Hibiki, Kakubin, Bowmore and Midori, will be folded into the new Beam Suntory by the end of this year.
Suntory paid $83.50 per share of Beam. The combined Beam Suntory now the takes the number three position in the global premium spirits market, the company claims.
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.
Beam Suntory aims to achieve growth in markets worldwide, particularly the US with its strengthened global distribution network.
Matt Shattock, chairman & CEO of Beam Suntory said: “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.
"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 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.”
Nobutada Saji, president and chairman of Suntory Holdings, said: “I am very delighted with the launch of Beam Suntory, which unites Beam and Suntory’s spirits businesses, and I truly believe Beam Suntory will continue to grow strongly in the global spirits industry.
“Since its founding, Suntory Group has always shared the spirit of ‘Yatte Minahare – Go for it!’ in taking on new challenges, creating new opportunities, and living our corporate values. Beam’s heritage of over 200 years is also characterized by a spirit of entrepreneurialism, creativity and courageous decisions that exemplify the same ‘Yatte Minahare’ spirit.
“I believe this common spirit and our combined strengths will be a powerful driving force as the new Beam Suntory excites consumers around the world with our portfolio of premium brands. At the same time, Beam Suntory will remain true to Suntory’s corporate philosophy, ‘In Harmony with People and Nature,’ in developing a rich experience of life based on real needs in the communities in which we do business, coexisting with people and their nature surroundings.”