Beam Suntory Inc has come into being, with Suntory Holdings' acquisition of Beam completing today.

The US$16bn transaction, which was announced in January closed this afternoon (30 April), resulting in the creation of what the two companies claim is the third-largest premium spirits company in the world.

Beam Suntory, which will be headquartered in Deerfield, Illinois, intends to integrate the spirits business of the Japanese firm's Suntory Liquors unit before the end of this year.

“We have created a stronger global business with an even better premium portfolio,” said Matt Shattock, Chairman & CEO of Beam Suntory. “We will be focused on continuing our momentum, growing in developed and emerging markets, and building on our combined strengths.”

Nobutada Saji, president & chairman of Suntory Holdings, added: “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. I believe this common spirit and our combined strengths will be a powerful driving force.”

Combined sales of Beam Inc and Suntory Liquor totalled US$4.6bn in 2013.