MAM
Suntory Holdings completes acquisition of Beam Inc.
MUMBAI: Suntory Holdings and Beam Inc announced that Suntory has completed the acquisition of all the outstanding shares of Beam for $83.50 per share on 30 April.
As a result of the transaction, Beam has been renamed Beam Suntory. The new company intends to integrate the spirits business of Suntory Liquors before the end of this year. The transaction creates a company with the strong number three position in the global premium spirits market. Beam Suntory will be headquartered in Deerfield, Illinois and led by chairman and chief executive officer Matt Shattock, who has been CEO of Beam since 2009.
Looking ahead, Beam Suntory aims to achieve growth in markets worldwide, including the United States, the world’s largest spirits market, by leveraging its combined portfolio of leading brands, and its strengthened global distribution network.
“By combining the world leader in Bourbon and Japan’s leading spirits company, we have created a stronger global business with an even better premium portfolio,” said Shattock.
The company’s portfolio is led by its flagship brands Jim Beam and Yamazaki, as well as world renown premium brands including Maker’s Mark, Knob Creek, Hakushu, Hibiki, Kakubin, Teacher’s, Laphroaig, Bowmore, Canadian Club, Courvoisier, Sauza, Pinnacle and Midori.
“We believe the new Beam Suntory will grow by pursuing the global strategy that made Beam so successful,” Shattock added. “We will be focused on continuing our momentum, growing in developed and emerging markets, and building on our combined strengths. Those strengths include a dynamic portfolio across key categories, powerful routes to market and passionate people. I’m particularly excited about what brings us together – a strong cultural fit based on the entrepreneurial and innovative spirit of two companies with common values and proud heritages rooted in multi-generational family businesses. We look forward to learning from each other and to creating a future of exciting growth for our business and opportunities for our people.”
“I am very delighted with the launch of Beam Suntory, which unites Beam and Suntory’s spirits businesses, and I truly believe Beam Suntory will continue to grow strongly in the global spirits industry,” said Suntory Holdings president and chairman Nobutada Saji.
“Since its founding, Suntory Group has always shared the spirit of ‘Yatte Minahare – Go for it!’ in taking on new challenges, creating new opportunities, and living our corporate values. Beam’s heritage of over 200 years is also characterized by a spirit of entrepreneurialism, creativity and courageous decisions that exemplify the same ‘Yatte Minahare’ spirit. I believe this common spirit and our combined strengths will be a powerful driving force as the new Beam Suntory excites consumers around the world with our portfolio of premium brands. At the same time, Beam Suntory will remain true to Suntory’s corporate philosophy, ‘In Harmony with People and Nature,’ in developing a rich experience of life based on real needs in the communities in which we do business, coexisting with people and their nature surroundings.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
