A Japanese company has announced plans to acquire the producer of Jim Beam bourbon.
Suntory Holdings of Osaka, Japan, has agreed to purchase Beam Incorporated for $16 billion.
The Courier-Journal reports that under a deal approved by leadership at both companies, the current Beam management team would continue to lead the business from Beam headquarters outside Chicago, with Jim Beam maintaining its distillery in Clermont, Kentucky.
Beam Incorporated owns many of the most famous names in the world of bourbon, including Jim Beam, Maker’s Mark, Knob Creek, Basil Hayden, Bookers, and Old Grand-Dad.
The company’s portfolio also includes brands of vodka, rum, tequila, as well as Irish and Scotch whiskies.
The acquisition of Beam Incorporated by Suntory Holdings is expected to finalized in the second quarter of this year.