Blog: Suntory food and drink arm makes stock exchange debut
Dean Best | 3 July 2013
Shares in Suntory Beverage and Food Ltd started trading in Tokyo today (3 July), with the stock its first day above the offer price.
The company, which owns Asian food business Cerebos Group, as well as major global drinks brands like Schweppes, saw its shares close at JPY3,145. The listing price for the shares, in what financial watchers say is the world's second-largest IPO this year, was JPY3,100.
Suntory Beverage and Food is looking to use the funds raised by the flotation to make acquisitions overseas, a strategy many Japanese firms have followed amid a flat home market.
Suntory Holdings, which keeps a 60% stake in the food and beverage unit, has been one of the Japanese companies to look to international deals for growth. It acquired the Orangina Schweppes business in 2009.
In recent months, Suntory has been linked to the GlaxoSmithKline drinks brands, Lucozade and Ribena, that are up for sale. Last year, it was reported to have held talks with Diageo over a bid for US spirits group Beam.
Suntory Beverage and Food, which does not contain the parent company's beverage alcohol assets, also provided results for the first quarter of 2013, in which sales and profits increased year-on-year. The numbers also included forecasts for higher annual revenue and earnings.
According to The Wall Street Journal, company president Nobuhiro Torii said at a news conference in Tokyo he was "relieved and satisfied" that it exceeded the offering price.
"We believe the speed of our growth will accelerate now that we've firmly secured funds," Mr. Torii said.
The plethora of food manufacturing associations in the UK has been argued by some to be an impediment to the industry coming to a coherent position on the aftermath of Brexit and on what the sector sh...
An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....
Ask any FMCG executive to list the trends shaking up the sector and digital and e-commerce will be pretty high on the list. Drill down into that and Amazon will be one of the subjects in the digital s...
Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...
- Wessanen's move for Spain's Biogran - analysis
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Burger King, Jollibee: foodservice focus, Nov 2016
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- General Mills jobs to go in business revamp
- Chobani COO Burns to leave yogurt firm
- Freedom Foods Group nears M&A in Oz, North America
- How Brands Are Making Our Food Healthier
- Confectionery North America (NAFTA) Industry Guide_2016
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Chocolate (Confectionery) Market in Belgium - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020