Japanese beverage maker Suntory intends to double the revenue at Beam spirits business to $10bn over the next five years.
The firm plans to leverage on the growing demand for drinks such as whiskey and bourbon. In addition, it is planning to enter into developing markets, reported Reuters.
By 2020, the company aims to earn an overall revenue of $34bn.
Former company president Nobutada Saji was quoted by the news agency as saying that another acquisition would be required to achieve that tagret. However, Takeshi Niinami, the current president of Suntory, said that the demand for brown liquors meant that this target could be reached without making any large acquisition.
In an interview with Reuters, Niinami said: "I am not ruling out acquisitions as possibility. There could be small ones along the way."
With the acqusition of US-based Beam for $16bn in 2014, the company became third largest spirits maker in the US after Diageo and Pernod Ricard, the news agency reported.
According to Niinami, the company's Jim Beam brand has growth potential in India, Latin America, and the US.
Image: Suntory headquarters in Osaka, Osaka prefecture, Japan. Photo: courtesy of 663highland / Wikipedia.
