JAPAN: Suntory confirms shake-up, plans "aggressive" M&A
Suntory will target M&A with its new structure
Suntory Holdings has confirmed plans for a major shake-up, including a raft of new executive appointments and a more “aggressive” M&A strategy.
In a statement today (18 December), the Osaka-headquartered group said it will strengthen its corporate planning and admin system by setting up a strategy planning and finance division for its beverage and food division. A separate new strategy development department will also promote the group's M&A strategy “more aggressively”, it said.
The statement did not refer to plans to raise up to US$6bn by selling shares in its beverage and food division, as reported last week. The group did not deny the plans, but said nothing is confirmed.
The company said today it will also look to speed up the development of its drinks and food business in the Middle East, Africa and Latin America, by placing this part of the business under the control of its international division.
Suntory also announced the retirement of eight executives, as well as new appointments and job roles in its beverage and food division, and its liquor unit.
The changes will take effect on 1 January.
According to a press report earlier this month, Suntory held talks with Diageo about a possible takeover of Beam Inc this summer. Both Diageo and Beam declined to comment on the reports, when contacted by just-drinks.
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