This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Beam Suntory repsonds to Niinami’s IPO claims
Following claims by Suntory Holdings’ new president that the group is considering an initial public offering (IPO), its spirits arm Beam Suntory said it is “sharply focused on executing growth”.
Takeshi Niinami said Suntory Holdings is considering several financing options
Speaking to The Wall Street Journal, Takeshi Niinami – who became the first Suntory president outside of the Japanese group’s founding family last year – said Suntory is contemplating an IPO to finance growth.
Niinami said he would consider selling shares in both Suntory Holdings, or its spirits unit Beam Suntory, formed after the group’s US$16bn acquisition of US firm Beam Inc in 2014.
He told the publication: “I do not stress the possibility of an IPO. We have to study carefully, in detail, every option.”
An IPO is one of several financing options for Suntory, including sales of assets and private equity deals, he added, but if it were undertaken, no shares would be sold before 2018.
When asked about Niinami’s comments, a company spokesperson for Beam Suntory said: “At Beam Suntory, we’re sharply focused on executing our growth strategy and outperforming our market as the world’s third largest premium spirits company.”
Suntory Holdings sold Louis Royer Cognac to French spirits producer Terroir Distillers for approximately €100m, despite an opposing acquisition bid by Emperador.
Just last week, the company sold its 50% stake in the Tsingtao brewery joint venture.
Beam Suntory, which incorporates the Couvoisier Cognac, Maker’s Mark Bourbon and Hibiki Japanese whisky brands, saw its sales shoot up 58% in the first half of its financial year.