Japan’s Suntory to enter Europe with $3.8-billion Orangina deal
23 Sep 2009
Japanese beverage maker Suntory Holdings Ltd. has made an offer to buy Orangina Schweppes from Blackstone Group LP and Lion Capital Holdings Inc., Blackstone said yesterday.
Although the companies did not reveal the offer amount, analysts say the deal will be about 2.6 billion euros ($3.8 billion).
Blackstone, the largest private-equity firm, and Lion Capital said they would decide on a response after consulting workers at Paris-based Orangina.
Orangina's other popular brands include Oasis fruit beverages.
There were earlier reports that the deal will be in the range of 1.85 billion euros, which Blackstone and Lion paid to Cadbury in 2005 to buy Orangina (See: Japan's Suntory in talks to buy French rival Orangina).
The Osaka-based Suntory is the third larger beverage maker in Japan, after Kirin Holdings and Asahi.
Suntory said in July that it is in talks to merge with Japan's biggest maker Kirin Holdings Co into one of the world's largest beverage makers.