Big news in the spirits world today. Bourbon makers Jim Beam and Maker’s Mark was purchased by Japanese company Suntory for $13.6 billion. The privately held company is well known for producing Japan’s first whiskey.
Jim Beam’s stock was purchased for $83.50 a share, right at 25% more than the last closing price. The deal also reportedly includes the assumption of company debt, raising the total transaction to $16 billion.
Suntory was founded in 1899, building their first distillery over the next decade. Suntory owns fitness clubs and gyms, flower producers, beverage brands, even Subway restaurants in Osaka, Japan.
Jim Beam says the United States based management team will continue to run the business. In addition to Jim Beam and Maker’s Mark, the company also owns Laphroaig Scotch, Pinnacle Vodka, Canadian Club and more.