Blog: Fortune favours the brave
Chris Brook-Carter | 13 October 2010
Pershing Square Capital Management LP has acquired an 11% stake in Fortune Brands, US reports have said.
The hedge-fund firm is led by activist investor William Ackman, who has a reputation for buying stock in companies he deems undervalued and lobbying for changes he thinks will boost shareholder value.
It is certainly a move to keep an eye on, and may spell trouble for the US-owner of the Beam Global Spirits & Wine business.
Ackman led an unsuccessful effort last year to place as many as five board members, including himself, on the US retailer Target's board and also has a history of stirring things up at the restaurant chain Wendy's.
Beam's investor relations team will have their work cut out.
I've stopped short of covering it as a product launch story on just-drinks, but take a look at this. Released this month in the UK, Snuffle Dog Beer is already available in 25 markets....
PepsiCo received high praise when it announced it was to launch its stevia-based Pepsi extension True exclusively on Amazon in the US....
Sean 'Diddy' Combs, the US rapper and entrepreneur, has publicly turned against his apparent former favourite Tequlia brand, Patron, now that he is joint-owner of DeLeón Tequila....
The Coca-Cola Co has spent a lot of money recently fighting accusations that soft drinks make you fat....
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