Fortune Brands this morning (8 December) confirmed that it will break up its three business units and will look to become “focused solely” on its Beam Global Spirits & Wine division. Here, just-drinks takes a closer look at Fortune’s wine and spirits division.
- Beam Global Spirits & Wine is the largest US-based spirits company and the fourth largest premium spirits business in the world, with US$2.5bn in annual revenue, according to Fortune Brands.
- The firm produces leading Bourbon brands Jim Beam, Maker’s Mark and Knob Creek. Whisky brands include Canadian Club, Laphroaig and Teacher’s Scotch, while the firm’s Tequila’s include Sauza, Hornitos and El Tesoro. Beam also produces Courvoisier Cognac brand, and cordial brands DeKuyper and European Sourz. Growing brands for the firm include Effen vodka and Cruzan rum.
- Beam Global has launched a raft of new products in the last 12 months, including Jim Beam’s Red Stag, Maker’s 46, Cruzan 9, Courvoisier 12 and 21, Teacher’s Origin in India and new ready-to-drink products in Australia.
- In October, the firm saw its third-quarter operating profits slip. For the three months to the end of September, operating profits fell by 19% on the same period a year ago, coming in at $118.1m. Before charges and gains, however, operating profits were down by only 2.3% at 145.8m. Net sales at the unit were flat for the quarter, meanwhile, inching up by 1% to $643.1m.
- In September, the company strengthened its relationship across the Control States in the US with Southern Wine & Spirits of America. As part of the deal, Southern upped its broker status for Beam Global from eight Control States to 16. The move, which took effect from 1 October, has seen Beam Global shift distribution from its own organisation to Southern in eight states.
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