Beam’s takeover by a Japanese drinks firm “should be good” for Kilbeggan Distillery, according to the American firm.
Japanese drinks giant Suntory has agreed to buy the current owner of the distillery, Beam Inc, in a $16 billion deal that includes the US firm’s debt. Once completed, the deal will make Suntory the world’s third largest manufacturer of distilled beverages.
In addition to acquiring the distillery and the Kilbeggan and Tyrconnell Irish whiskey brands, the multi-billion dollar deal also sees Suntory take over Beam’s Jim Beam bourbon, Courvoisier cognac and Sauza tequila.
Beam’s management team says it will continue to run its side of the business. In a statement issued to the Westmeath Examiner the firm, which only acquired the distillery in 2012 when it purchased Cooley Distillery from the Teeling family in a €70m deal, says that the transaction “should be good for Kilbeggan”.
“Together, we will have unparalleled expertise and portfolio breadth in whiskey, which is driving the fastest growth in premium spirits. Our combined routes to market will expand our global distribution footprint, and the powerful innovation capabilities both companies have developed will be a significant advantage.
“It’s business as usual at Beam and at our Irish distilleries. The Beam management team will continue to lead the business, and we anticipate our operations will continue as they are. Our brands will continue to be made with all the heritage and authenticity they’ve always had.”