Suntory Said to Be in Talks to Invest in Radico Liquor BusinessYuki Yamaguchi
Suntory Holdings Ltd., which agreed to buy bourbon maker Beam Inc. for $16 billion in January, is in talks for a stake of more than 20 percent in Radico Khaitan Ltd.’s liquor business, a person familiar with the matter said.
The Japanese company may invest in New Delhi-based Radico’s liquor business in a deal that could amount to about 10 billion yen ($97 million), the person said, asking not to be named as the talks are private.
Suntory is targeting growth overseas as the Osaka-based liquor maker faces a shrinking domestic beer market due to Japan’s declining population. The company currently has a contract with Radico to sell its Japanese whiskey products, including its Yamazaki brand, in India.
Radico’s Chief Financial Officer Dilip Banthiya declined to comment. Suntory declined to comment in an e-mail.
The talks were earlier reported by CNBC.
Radico is one of India’s biggest alcohol companies and sells the 8 PM whiskey and Magic Moments vodka brand.