Suntory Sets Up Indian Subsidiary for Business Expansion
By Rediff Money Desk, New Delhi Jun 27, 2024 19:26
Suntory, a Japanese beverage giant, has established an Indian subsidiary, Suntory India, to expand its spirits, soft drinks, and health & wellness businesses in the country's growing market.
New Delhi, Jun 27 (PTI) Japanese multinational brewing and distilling company Suntory on Thursday said it has set up an Indian subsidiary to accelerate its business in the country.
The new company -- Suntory India -- will commence operations in July and will be headed by Managing Director Masashi Matsumura. The company will set up its office at Gurgaon, Haryana, according to a statement.
This "aims to cover corporate functions required to build a firm business foundation and accelerate growth in its existing spirits business and establish opportunities for soft drinks as well as health and wellness businesses in the Indian market", the statement said.
Suntory Holdings President & CEO Tak Niinami said this will be a new base in India, a country with a large population and a rapidly growing economy.
"India is a remarkably attractive market and a key geopolitical player on the global stage, with strong cultural and economic ties with Africa, the Middle East, and Asia.
"Together with our spirits business Suntory Global Spirits, we will enhance our presence as a multifaceted beverage company in this vital market by supporting our soft drinks and health & wellness businesses to build foundations in India through investments and partnerships," he said.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group is a global leader in the beverage industry.
It is the maker of famous Japanese whiskies Yamazaki and Hibiki, iconic American whiskies Jim Beam and Maker's Mark, canned ready-to-drink -196, The Premium Malt's beer, Japanese wine Tomi, and the world-famous Château Lagrange.
It had an annual revenue of USD 20.9 billion in 2023, excluding excise taxes.
The new company -- Suntory India -- will commence operations in July and will be headed by Managing Director Masashi Matsumura. The company will set up its office at Gurgaon, Haryana, according to a statement.
This "aims to cover corporate functions required to build a firm business foundation and accelerate growth in its existing spirits business and establish opportunities for soft drinks as well as health and wellness businesses in the Indian market", the statement said.
Suntory Holdings President & CEO Tak Niinami said this will be a new base in India, a country with a large population and a rapidly growing economy.
"India is a remarkably attractive market and a key geopolitical player on the global stage, with strong cultural and economic ties with Africa, the Middle East, and Asia.
"Together with our spirits business Suntory Global Spirits, we will enhance our presence as a multifaceted beverage company in this vital market by supporting our soft drinks and health & wellness businesses to build foundations in India through investments and partnerships," he said.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group is a global leader in the beverage industry.
It is the maker of famous Japanese whiskies Yamazaki and Hibiki, iconic American whiskies Jim Beam and Maker's Mark, canned ready-to-drink -196, The Premium Malt's beer, Japanese wine Tomi, and the world-famous Château Lagrange.
It had an annual revenue of USD 20.9 billion in 2023, excluding excise taxes.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Suzuki Tech...](https://im.rediff.com/80-80/money/2022/mar/20suzuki.jpg)
Suzuki Tech Strategy: Light Vehicles, Small...
Suzuki outlines its technology strategy for the next 10 years, focusing on light...
![Glenmark Pharma...](https://im.rediff.com/80-80/money/2012/oct/28drug.jpg)
Glenmark Pharma Gets USFDA Approval for Seizure...
Glenmark Pharmaceuticals has received USFDA approval for its generic Topiramate...
Indian Markets Closed for Muharram: Equity,...
Indian stock, currency, and commodities markets will be closed on Wednesday, July 17,...