Beam and Suntory come together in $16 billion acquisition

The deal for US company Beam has cost the Japanese company $16 billion and will result in the renaming of the company to Beam Suntory, thus creating the world’s third largest high-end spirits maker. Combined total sales of Beam and Suntory’s spirits business in 2013 amounted to $4.6 billion.

Beam Suntory wants to integrate the spirits business of Japan's Suntory Liquors before the end of this year. Suntory is best-known for the Japanese whisky brands Yamazaki and Hibiki, as well as Bowmore Scotch whisky and Midori liqueur. In addition to Jim Beam bourbon, Beam's other brands include Maker's Mark bourbon, Sauza tequila and Courvoisier cognac.

The newly renamed company will be based out of Deerfield, Illinois and will be led by Beam’s chief executive, Matt Shattock. "We will be focused on continuing our momentum, growing in developed and emerging markets and building on our combined strengths,” he said in a statement. "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."