New Delhi: 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.
Published 27 June 2024, 14:50 IST