Cooley Distillery is set to have new owners for the second time in just over two years with Suntory Holdings set to acquire their parent company Beam in a deal valued at $16 billion, including debt.
The deal will make the Japanese company the world’s third-largest maker of distilled drinks.
Beam bought the Cooley Distillery and brands such as Kilbeggan and Greenore from founder John Teeling in December 2011 for around €74m.
Cooley’s flagship Kilbeggan brand has since joined the ranks of Beam’s Rising Star brands, which the US company is promoting strongly in Asia.
Beam owns Jim Beam and Maker’s Mark bourbons, Courvoisier cognac and Sauza tequila with Suntory being behind Yamazaki, Hakushu, Hibiki and Kakubin Japanese whiskies, Bowmore Scotch whiskey and Midori liquer.
Beam is the third large acquisition in recent years for Suntory. It bought soft drinks brands Lucozade and Ribena for £1.35 billion from GlaxoSmithKline last year and acquired France’s Orangina Schweppes in 2009.
Suntory said Beam’s chief executive Matt Shattock and the Beam management team would continue to lead the business.
The deal will close in the second quarter of the year, subject to shareholder approval.
