Japanese Firm Buys Jim Beam for $13.6B

$13.6B deal set to be 3rd-biggest in industry history

By Matt Cantor,  Newser Staff

Posted Jan 13, 2014 11:00 AM CST

(Newser) – Jim Beam, Maker’s Mark, and Knob Creek bourbons will soon have a second home in Japan. Beam, the owner of the whiskeys and the world’s fourth-biggest liquor company by sales, has reached a deal to be purchased by Osaka’s Suntory, a family-owned liquor company that’s No. 15 worldwide, the Wall Street Journal reports. The $13.6 billion cash deal is poised to be the third biggest the liquor industry has ever seen, as well as the third-biggest overseas buy by a Japanese firm.

The sale comes as bourbon undergoes a renaissance, the Journal notes: For the first time in almost four decades, US production surpassed 1 million barrels in 2012—thanks in part, perhaps, to Mad Men. Beam is the second-biggest whiskey maker in the US, after Brown-Forman Corp., maker of Jack Daniel’s. Until late 2011, it was a part of Fortune Brands, which also owns Master locks and Moen faucets. The company’s management will continue from Chicago, says Suntory, whose controlling family is Japan’s second-richest, with a net worth of $10.7 billion, Forbes reports.

In this Monday, Jan. 13, 2014, photo, Jim Beam and Maker’s Mark bottles line the counter at the Jim Beam visitors’ center at Clermont, Ky.
In this Monday, Jan. 13, 2014, photo, Jim Beam and Maker’s Mark bottles line the counter at the Jim Beam visitors’ center at Clermont, Ky.   (AP Photo/Bruce Schreiner)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
8%
0%
85%
0%
8%
0%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!