Boston Beer in early deal talks with Japanese whisky-maker Suntory, WSJ reports (updated)

Boston Beer

31/05/2024 20:40

(Adds deal details, background in paragraphs 3, 4, 7)
       May 31 (Reuters) - Japanese whisky-maker Suntory
Holdings is in talks to acquire U.S. brewer Boston Beer  SAM.N 
known for its Samuel Adams brand, the Wall Street Journal
reported on Friday, citing people familiar with the matter.
    Shares of Boston Beer jumped 23% on the news in late
trading. 
    The deal would give Suntory, which sells beverages like Jim
Beam bourbon, Yamazaki whiskey and Roku Gin, a bigger foothold
in the U.S. beer market.
        Back in 2014, Suntory paid 
    $13.6 billion
     to buy U.S. spirits company Beam, giving it access to a
stronger distribution network not just in the United States but
in key emerging markets such as India, Russia and Brazil. It
also sells in Japan and Europe.
  
    The two parties were in early talks, the WSJ report said,
adding that "it is still possible the talks won't result in a
transaction, or that another suitor could emerge".
    Boston Beer has a market capitalization of roughly $3
billion. 
    The company did not respond to a Reuters request for
comment. Suntory could not be immediately contacted for a
response.

 (Reporting by Savyata Mishra in Bengaluru; Editing by Maju
Samuel)
 ((Savyata.Mishra@thomsonreuters.com;))