The news that Japanese brewer Suntory has acquired US spirit company Beam Incseems to have come as only a momentary surprise to many in the City.

This is because despite the deal’s eye-watering $16bn price tag it comes not long after Suntory agreed to buy Ribena and Lucozade for £1.35bn from GlaxoSmithKline.

Jim Beam spirits

Indeed, speculation about Suntory’s interest in Jim Beam has been floating around for over a year; 12 months ago Diageo and Suntory were rumoured to be launching a joint venture to buy the brand. The acquisitive Japanese firm is now hoping the US’s number-four spirits player will strengthen its whisky and bourbon portfolio – both drinks have been strong growth areas and the deal will give Suntory a valuable foothold in the lucrative US market (though at quite a premium).

The acquisition is unlikely to make much of a difference to the booze landscape in the UK, however. Of Beam Inc’s seven power brands, only two (Teachers Highland Cream and Courvoisier) made it into The Grocer’s top 100 alcohol brands, published in July. This showing was well behind rivals Diageo (with seven), Pernod Ricard (six), Bacardi Brown-Forman Brands (five) or First Drinks – and Suntory’s Midori and Bowmore brands don’t figure anywhere near this list, let alone its niche Japanese whisky brands.

The biggest impact may well be in knocking Suntory out of the running as a potential bidder in the proposed sale of Whyte & Mackay by Diageo, a rumour first mooted before Christmas. Diageo had offered to sell part of Whyte and Mackay’s business to assuage competition concerns following its acquisition of United Spirits Limited.

Although this deal has since run into a quagmire (an Indian court annulled part of the sale and an appeal is currently before the Supreme Court), United Spirits is still keen to press on with the sale of Whyte & Mackay.

With Suntory out of the running, this leaves only one potential suitor – investment firm Vasari Global, whose chairman sold the whisky brand to United Spirits in the first place.

Even by the City’s standards, it all feels a bit of a merry-go-round.

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