Beam Starts Life as a Pure Play Spirits Company
Global spirits business Beam has commenced trading as an independent company on the New York Stock Exchange. Formerly known as Fortune Brands, Beam is the remaining company following the separation of Fortune Brands’ businesses, which was completed on October 3rd.
Beam is the world’s fourth largest premium spirits company and the largest US-based spirits company. Its leading brands include Jim Beam bourbon, Maker’s Mark bourbon, Sauza tequila, Courvoisier cognac, Canadian Club whisky, Teacher’s Scotch, Laphroaig single-malt Scotch, Cruzan rum, Hornitos tequila, Knob Creek bourbon, Pucker flavoured vodka, and Skinnygirl cocktails.
The company’s annual sales were $2.7 billion in 2010 on volume of approximately 33 million 9-liter cases. The company is targeting to deliver growth in adjusted pro forma diluted earnings per share at a high-single-digit rate in 2011.
“With the benefit of our portfolio transformation from 2005 to 2007, the enhanced routes to market we built in 2008 and 2009, and the turbocharged brand investments behind sustainable growth initiatives we’ve made over the past two years, Beam is ready to accelerate profitable growth as a pure-play spirits business,” comments Matt Shattock, president and chief executive of Beam. “We look forward to building on our current momentum in the dynamic global spirits marketplace, and continuing our strong, disciplined stewardship of capital to further drive shareholder value.”
