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News
Diageo eyes stake in Beam Global
Diageo has reportedly been in discussion with several parties, including Japanese brewer Suntory, to take a stake in US drinks company Beam Global.
Diageo is yet to approach US- based Beam about a potential takeover bidThe world’s largest drinks company is said to have held talks with Suntory amongst other drinks companies and private equity firms, in a bid to strike a US$10bn deal to acquire a chunk of Beam’s brands, which include Jim Beam bourbon, Pinnacle vodka and Courvoisier Cognac.
As Diageo is still currently settling several other takeover deals, it is thought any swoop made for Beam will be delayed until next year.
The news comes just weeks after Diageo announced a £1.2bn deal to acquire a 53.4% stake in Vijay Mallya’s Indian drinks company United Spirits, while discussions are still on-going with the Beckmann family over a bid to buy their Jose Cuervo Tequila brand.
As such Diageo has not yet made any formal offer nor has it discussed the notion with Beam. A move to buy a stake in Beam, whose core business is centered in the US, would be a departure from Diageo CEO Paul Walsh’s strategy to enter key emerging markets.
Diageo declined to comment.