Suntory Holdings Ltd. is in talks to buy European drink maker Orangina from Blackstone Group LP and Lion Capital Holdings Inc. as the nation's third-largest brewer expands outside its shrinking domestic market.
The purchase, for more than $2.6 billion, could be agreed on as soon as this week, according to a source familiar with the talks who declined to be identified. Christine Anderson, a Blackstone spokeswoman in New York, declined comment. Suntory is in discussions to buy Orangina, spokeswoman Aya Takemoto said Thursday, declining further comment.
Buying the European drinks business previously owned by Cadbury Schweppes PLC would give Suntory the Oasis, Schweppes and other brands that have sales of about 1 billion euro ($1.46 billion) in the region. Suntory, which is also in talks to merge with Japan's biggest brewer, Kirin Holdings Co., is expanding abroad as domestic beer sales fall and the yen gains.