Deerfield based Jim Bean, a major employer in the Village, will be sold to Suntory Holdings of Japan in a $16 billion transaction but remain here with current management at the helm, according to a report today from Crain’s Chicago Business.
Beam, distiller of Jim Beam bourbon, Makers’s Mark and a host of other spirits, will be now be able to more easily partner with Suntory, another leading force in the liquor industry, according to the Seattle Post Intelligencer. Suntory already distributes Beam’s products in Japan while Beam does the same for Suntory in certain Asian markets.
“This is a very exciting development that delivers substantial value for our stockholders and creates an even stronger global company with an excellent platform for future growth,” Beam President and CEO Matt Shattock said in the statement reported in Crain’s. “With particular strength in Bourbon, Scotch, Canadian, Irish and Japanese whisky, the combined company will have unparalleled expertise and portfolio breadth in premium whisky, which is driving the fastest growth in Western spirits.”
Suntory will pay $83.50 per share for Beam, a 25 percent premium over the closing price of the stock Friday, according to the Post Intelligencer. Both companies’ boards approved the deal. Beam’s shareholders must give the nod as well. The transaction will likely close in the second quarter of this year.
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