Japanese whisky-maker Suntory denies report of talks with Boston Beer about acquisition

Jap whisky maker Suntory Holdings on Saturday (Jun 1) denied a file that it became in talks to provide US brewer Boston Beer, diagnosed for its Samuel Adams mark.

The Wall Avenue Journal had reported on the supposed acquisition on Friday, citing of us familiar with the subject.

Boston Beer acknowledged it became aware of the media file.

“We offer out no longer comment on rumors. We’re entirely centered on our replace as an self sustaining company and our return to growth,” the US company acknowledged in a assertion.

Shares of Boston Beer fell about 5 per cent after the bell, reversing features made in tiring trading after the file.

The deal would have given Suntory, which sells drinks cherish Jim Beam bourbon, Yamazaki whiskey and Roku gin, an even bigger foothold within the U.S. beer market.

Encourage in 2014, Suntory paid US$13.6 billion to aquire US spirits company Beam, giving it entry to a stronger distribution network no longer fair within the US but in key emerging markets corresponding to India, Russia and Brazil. It additionally sells in Japan and Europe.

The 2 events were in early talks, the WSJ file acknowledged, adding that “it is peaceable most likely the talks acquired’t consequence in a transaction, or that yet another suitor may perhaps emerge”.

Boston Beer has a market capitalisation of roughly US$3 bil