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Suntory in talks to buy Orangina
Japanese brewer Suntory Holdings is reportedly in talks to buy soft drinks maker Orangina from private equity funds Blackstone Group and Lion Capital.
Privately held Suntory – in talks itself to be sold to larger rival Kirin Holdings – would likely pay more than the $2.6bn that Blackstone and Lion Capital paid for Orangina in 2006, according to The Wall Street Journal.
The Orangina talks are at a delicate stage, said a Reuters source, and it’s not guaranteed that a deal will be reached.
“It’s true that we’re in talks, but nothing has been decided and I can’t comment further,” a Suntory spokeswoman said.
“I don’t know the details of the [Orangina] deal yet, but it seems to fit Suntory’s strategy to expand its overseas business, which is the purpose of the merger with Kirin,” said Tomonobu Tsunoyama, food sector analyst at Tokai Tokyo Research Center.
Analysts have said the Kirin-Suntory combination, which would control half of Japan’s beer market and 30% of soft drinks, would bulk them up to pursue large deals overseas.
Source: Reuters
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