Suntory acquires ASC
Wednesday 9 December 2009
After months of speculation, leading importer and distributor of wine in China ASC announced earlier today that the majority stake in their company is being acquired by Suntory of Japan. So long as China’s anti-monopoly bureau approves, Suntory will take over those shares, believed to amount to around 80% of the company, previously held by the Austrian Langes-Swarovski family.
Don St Pierre Jr (‘Don Jr’, pictured here) will remain CEO of the company, retaining some equity, and the senior management team will remain in place, overseeing a staff of 800. But the new arrangement will presumably help to underwrite ASC’s...
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