Japan’s Suntory Holdings said it will buy liquor company Beam for $16 billion, including debt — receiving iconic American brands like Jim Beam and Maker’s Mark. The whiskey and beer maker will pay $83.50 per share, which is a 25% premium to Beam’s closing price on Friday of $66.97. Suntory President and Chairman Nobutada Saji said in a statement the acquisition will help the company further its growth around the world. The combined company is expected to generate annual sales of more than $4.3 billion, making it the world’s third largest premium spirits entity, according to Beam President and CEO Matt Shattock.
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