Suntory Holdings Ltd. said Thursday it has agreed to acquire privately held European beverage maker Orangina Schweppes Group, as the Japanese beverage giant looks to embark on a major offensive in the global soft drinks market.Suntory will buy Orangina for over Y300 billion, or about $3.3 billion, from Blackstone Group and Lion Capital, a person close to the matter said separately. The amount compares with $2.6 billion that the private-equity owners paid in 2006 for Orangina, maker of the popular sparkling orange beverage of the same name.
The purchase reflects the need of Japanese food and beverage companies to advance into overseas markets, given falling domestic sales caused by a shrinking population and weak economy.
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