Beam Suntory is set to switch its corporate headquarters from Chicago to New York.
The spirits group, which moved its HQ into central Chicago four years ago, will set up camp in New York next year. The new base, at 11 Madison Avenue, will also house the back-office operations for Beam Suntory’s parent company, Suntory Holdings.
Making the move will be the majority of Beam Suntory’s leadership team, along with the company’s global ‘brand house’ organisation and most of its corporate function duties. The current Chicago offices, in the Merchandise Mart building, will remain as the home for Beam Suntory North America.
“As we look to the future, we anticipate returning to office-based work to enable the kind of collaboration we need to reach our growth ambitions,” said CEO Albert Baladi. “Cities clearly have an important role to play in the future of work, and while we will surely offer a higher degree of workplace flexibility, we will continue to build a strong presence in the key global cities that are closest to consumer trends and our customers.”
As part of conglomerate Fortune Brands, Beam Suntory, which inherited Suntory as its owner seven years ago at a price of US$16bn, was based out of Deerfield, which is also in the state of Illinois.