US: Beam Inc silent on Diageo, Suntory takeover talk
Beam Inc was formerly part of Fortune Brands until late last year
A story in the Sunday Telegraph yesterday (9 December) claimed that the two companies held talks earlier this year about a possible move to buy Beam. The US company has widely been viewed as a takeover target for the larger spirits players since it became a pure-play drinks company in October last year.
The talks, which reportedly took place in the Spring and Summer, have since proved inconclusive.
When contacted by just-drinks today, a spokesperson for Beam would not be drawn on the Telegraph's story.
“Speculation about consolidation is a way of life in the spirits industry, and as a matter of company policy we don’t comment on rumour or speculation,” the spokesperson said.
“We’re sharply focused on executing our proven growth strategy, outperforming our market, and continuing to create long-term value for our shareholders.”
For just-drinks' view on the latest development, click here.
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