Japanese food and beverage firm Suntory has established an Irish subsidiary, Lucozade Ribena Suntory Ireland Limited, ahead of the completion of the deal to buy the Lucozade and Ribena brands from GlaxoSmithKline.
The company was established on 22 October. It is not yet clear as to whether Suntory intends to open an Irish headquarters, however Retail Intelligence understands that the company is currently looking at a site in Sandyford.
According to Tetsuo Ichimoto, head of Suntory's corporate communications department in Japan, the group is "currently at the final stage of negotiations towards closing the deal." He was unwilling to comment about the establishment of the Irish business.
It is anticipated that the deal will be completed in Q1 of next year.
The registered address for Lucozade Ribena Suntory Ireland is currently given as 53 Merrion Square, Dublin 2, the home of TMF Group, a corporate services provider which specialises in partnering with foreign companies seeking to set up an operation in Ireland.
Ronan Reilly, managing director of TMF Group, and Makiko Ono, head of Suntory's London office, have been named as the directors of Lucozade Ribena Suntory Ireland.
TMF Group were unavailable for comment.
© 2013 - Checkout Magazine by Stephen Wynne-Jones