By Andrew Starke
Global premium spirits company, Beam Inc., will today (Oct 5) begin 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 completed on October 3.
In Australia, Beam is comprised of the regional head office (Asia Pacific/South America), plus the core commercial and marketing team for Australia.
Internationally, Beam is the world’s fourth largest premium spirits company and the largest US-based spirits company.
Its leading brands include Jim Beam Bourbon, Canadian Club Whisky, Maker’s Mark Bourbon, Sauza Tequila, Courvoisier Cognac, Teacher’s Scotch, Laphroaig Single-Malt Scotch, Cruzan Rum, Hornitos Tequila, Knob Creek Bourbon, and Skinnygirl Cocktails.
The company’s annual sales were $2.7 billion in 2010 on volume of approximately 33 million 9-litre cases.
“This is an incredibly proud day for the 3,200 people of Beam worldwide,” said Matt Shattock, president and chief executive officer of Beam.
“Our people are passionate about winning and are focused squarely on outperforming our markets and creating long-term value for our shareholders.”
“In Australia we couldn’t be more excited about the future for Beam,” said Phil Baldock, President, Asia Pacific / South America, Beam.
“While our brands date back more than two centuries, in many ways this is the start of a new, bright beginning for our company. We look forward to the opportunities ahead and toast the future!”
Following the final day of trading in Fortune Brands shares on October 3, the people of Beam marked the company’s emergence as a standalone spirits business with a celebration at its Clermont, Kentucky, distillery that was webcast company-wide to local celebrations at Beam’s facilities around the world.
The company is headquartered in Deerfield, Illinois with operating and commercial locations around the world.