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Schh…Orangina Schweppes bound for Japan

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ORANGINAThere’s an almost palpable sigh of relief in the statement from Blackstone and Lion Capital confirming the two private equity firms have received a “binding offer” from Japan’s Suntory for Orangina Schweppes.

It discloses little beyond Blackstone and Lion saying they will only be able to decide whether to accept the offer “once the necessary social, legal and
regulatory steps will have been completed”.

All that of course involves lots of red tape — so it may take some time — but you can be sure Blackstone and Lion will be doing everything they can to speed the process along — wishing the days away and hoping that their luck holds.

Finding a buyer like Suntory apparently willing to pay somewhere between $2.6 and $3 billion for Orangina at this point in the cycle gives Blackstone and Lion the perfect exit. Suntory could be paying them up to twice 2008 sales and more than they paid in 2006 to get hold of Orangina and its European brands.

Suntory goes for it with Orangina bid

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ORANGINA/True to its “Yatte Minahare” motto — “Go for it!” in Osaka dialect — Japanese brewer Suntory is sizing up a takeover bid for private-equity owned soft drinks maker Orangina Schweppes.

Although Suntory is already in the midst of a takeover by larger rival Kirin, that hasn’t quenched its thirst for growth as it looks to Orangina for new brands and markets.

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