Suntory to focus on Beam integration, says no more foreign buys for now

Tokyo

AFTER a US$16 billion whiskey binge, Suntory Holdings Ltd is keeping its wallet in its pocket.

Suntory, Asia's biggest-spending beverage acquirer over the past five years, plans to hold off on buying overseas companies for three years, president Takeshi Niinami said in an interview.

The company hired Mr Niinami from convenience store operator Lawson Inc in October as Japan's shrinking and ageing population compels it to look abroad for growth. Suntory's US$16 billion purchase of US spirits maker Beam Inc last year has helped raise the portion of revenue from overseas, while boosting debt and causing its credit rating to drop.

"It's too early," Mr Niinami said when he was asked about further cross-border acquisitions. "We can'…