New owner at Cooley Distillery

Cooley Distillery, located in the foothills of the Cooley Mountains has a new owner as Japanese drinks company Suntory have just signed an $13.6 billion (€9.9 billion) deal to buy US group Beam.

Beam bought the Cooley Distillery, which is one of Ireland’s youngest, smallest whiskey distilleries and brands such as Greenore and the old Locke’s Distillery in Kilbeggan two years ago. The deal was thought to be worth around €74m.

This new deal will make Suntory the world’s third-largest maker of distilled drinks.

Currently Beam owns Jim Beam, Maker’s Mark bourbons, Courvoisier cognac and Sauza tequila with Suntory’s Yamazaki, Hakushu, Hibiki and Kakubin Japanese whiskies, Bowmore Scotch whisky and Midori liqueur.

The deal, unanimously approved by both companies’ boards, will close in the second quarter of the year, subject to shareholder approval.

Beam’s management team will continue to lead the business as the two already have a business relationship under which Suntory distributes Beam products in Japan and Beam distributes Suntory’s products in Asian markets.