Fortune Brands, the parent company of Beam Global Spirits & Wine, will report its fourth quarter and full-year results tomorrow (29 January).
Here, just-drinks takes a look at the highs and lows for Beam Global in the three months to the end of December.
- Earlier this month, Beam Global appointed Byron Hoover as its first vice president for whiskey.
- Back in November, Fortune’s CFO, Craig Omtvedt, told an investor conference that the company expects to increase the proportion of Beam Global’s sales from outside of the US. Omtvedt said he saw “significant international growth opportunities” in spirits.
- Also in November, Beam Global announced the closure of one of its four bottling plants in the US. The facility in Cincinnati, Ohio, will close, with operations being moved to its plants in Clermont and Frankfort in Kentucky,
- A week earlier, the general manager of Courvoisier, Beam Global’s Cognac arm, told just-drinks that he was still cautious on talk of an economic recovery in its key US market. Patrice Pinet noted, however, that he was increasingly optimistic about the UK, Russia and Asia.
- In October, Beam Global announced a realignment of its organisation, both in the US and internationally. The changes have been introduced to “strengthen the long-term performance of its brands and promote organisational effectiveness and efficiency”, the company said.
- This realignment will result in what the division called “modest” job cuts. Beam Global intends to to cut staff numbers, with some positions being eliminated and new positions set to be filled to enhance capabilities in certain areas.
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