Suntory Beverage and Food’s new Chief Executive Makiko Ono, who spent much of her career driving foreign acquisitions as one of the few women working abroad at the company, now seeks to deliver growth via a similar strategy to take advantage of changes in consumer behavior as the pandemic eases.
The company is seeking acquisition opportunities totaling as much as ¥700 billion ($5.4 billion) over the next few years, the 63-year old, who assumed the top job on Friday, said in an interview. While Suntory’s acquisition strategy is yet to be finalized, the company sees potential in health-related drinks in the U.S., Asia and regions where Suntory has currently little presence, she said.
"Consumers are becoming more health conscious both mentally and physically,” Ono said, explaining that the impact of COVID-19 and remote work have led to more growth opportunities in products such as energy drinks, tea and canned coffee.