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Asean & Global Updates
POSTED | 9:35 AM | 23-04-2014

EU clears Suntory’s Jim Beam takeover

The European Commission has cleared Suntory of Japan's $16 billion bid for the US maker of Jim Beam bourbon whisky.

The Commission said on April 22 that the deal, which will make Suntory the world's third-biggest liquour firm, would not have an adverse impact on the European market. The two companies have limited overlap and are “mainly complementary,” it said.

In addition, “a number of strong competing players would remain ... customers would therefore still have sufficient alternative suppliers,” a statement said.

Beam Inc markets a range of bourbons and internationally known whiskies, having evolved from a small family base in Kentucky state. Suntory has embarked on an international expansion strategy, based on the Beam and other purchases, which some critics say are over-ambitious given its relatively small size, with annual sales of around $1.7 billion.

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