Schweppes deal is Suntory tonic
SCHWEPPES, the iconic British maker of tonic water and ginger ale, has been swallowed up by the Japanese.
Japan’s Suntory bought its owner Orangina Schweppes from private equity investment firms Blackstone and Lion Capital in a deal believed to be around £2.3billion. Orangina Schweppes also makes Dr Pepper and Snapple.
Suntory is looking to expand abroad to combat a slump in demand for whisky, beer and iced tea in its home market.
Chocolate giant Cadbury sold Schweppes to Blackstone and Lion Capital in 2007.