24 September 2009

Japan's Suntory makes offer for Orangina

Japan's Suntory Holdings is willing to pay $2.7 billion (250 billion yen) to pick up European drink maker Orangina from private equity firms Blackstone and Lion Capital.

Blackstone Group of the U.S. and London-based Lion Capital LLP said in a joint press release they will evaluate the proposal without setting a time table or revealing the size of the offer.

Blackstone and Lion Capital acquired Orangina in 2006 as part of a $2.19 billion (€1.85 billion) for Cadbury Schweppes PLC’s European soft drink business.

The Japanese brewer Suntory is already in negotiations to merge with main domestic rival Kirin Holdings Co., which would create one of the world’s largest food and drink companies.

Suntory wants to acquire Orangina in part to strengthen its bargaining position with Kirin.

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