Japanese distiller Suntory is buying the US spirits company that makes Jim Beam and Maker’s Mark bourbons, as well as Courvoisier cognac and and Sauza tequila.

It is the latest Japanese beverage firm seeking overseas growth as the population in its home market shrinks.

The cash deal – worth $13.6 billion (9.94 billlion euros) makes Suntory boss Nobuhiro Torii head of the world’s third-largest spirits producer in what is reported to be Japan’s third-largest announced outbound takeover deal of all time.

This gives the Japanese firm access to a stronger distribution network in the US and key emerging markets including India, Russia and Brazil.

Suntory makes Yamazaki, Hakushu, Hibiki and Kakubin Japanese
whiskies, Bowmore Scotch whisky and Midori liqueur.

Once the acquisition is completed, Suntory will become the third largest whiskey company and the fifth largest malt whiskey company by volume, according to International Wine & Spirit Research.

The combined company will have annu