Suntory, a Japanese beverage company, has completed the acquisition of American spirits maker Beam in a deal worth $16bn, which was previously announced in January this year.

Beam has been rebranded as Beam Suntory, which will be integrated with the spirits business of Suntory Liquors by this year end, as part of the transaction.

Beam Suntory chairman and CEO Matt Shattock said the company believes that Beam Suntory will grow by pursuing the global strategy that made Beam successful.

"By combining the world leader in Bourbon and Japan’s leading spirits company, we have created a stronger global business with an even better premium portfolio," Shattock added.

Beam Suntory plans to leverage its combined portfolio of leading brands, and its strengthened global distribution network in order to achieve growth in markets across the world, including the US.

The transaction has secured funding from the Bank of Tokyo-Mitsubishi UFJ.

It is anticipated to generate over $4.3bn in annual net sales of spirits products.

Suntory and Beam already have a business partnership under which Suntory distributes Beam products in Japan and Beam distributes Suntory’s products in Singapore and other Asian markets.

Suntory manufactures and sells beverages and food products in Europe, China, Japan, Southeast Asia, the Oceania, and the Americas. It operates through beverages and foods, and beer and spirits segments.

Image: Suntory headquarters in Osaka, Japan. Photo: Courtesy of 663highland.