Leading global spirits company Beam Inc, owner of Laphroaig Distillery on Islay and the Ardmore Distillery in Aberdeenshire, this week begins trading as an independent company on the New York Stock Exchange.
Date:
Wed, 05 Oct 2011
Source:
Beam
Beam:
Website
Formerly known as Fortune Brands, Beam is the remaining company following the separation of US-based Fortune Brands’ businesses completed on October 3rd.
In the UK, Beam operates Laphroaig Distillery and Ardmore Distillery as well as maturation facilities and an international customer service centre in Glasgow, plus offices in Horsham.
The company distributes its many famous brands through Stirling-based Maxxium UK.
Beam is the world’s fourth-largest premium spirits company and the largest US-based spirits company.
Its leading brands include Teacher’s, Laphroaig, Jim Beam Bourbon, Maker’s Mark Bourbon, Sourz, Sauza Tequila, Courvoisier Cognac, Canadian Club Whisky, Hornitos Tequila and Knob Creek Bourbon.
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 3200 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.
"With the benefit of our portfolio transformation from 2005 to 2007, the enhanced routes to market we built in 2008 and 2009 and the turbo-charged 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.
"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."
Ian Gourlay, Beam’s senior vice-president (operations and supply chain), said: "In the UK we couldn’t be more excited about the future of Beam.
"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 3rd, Beam's people marked the company’s emergence as a standalone spirits business with a celebration in Kentucky that was webcast company-wide to local celebrations at Beam’s facilities around the world, including Glasgow.
The event, which included appearances by Kentucky governor Steve Beshear and master distiller Fred Noe, the great grandson of Jim Beam, underscored Beam’s centuries of heritage, hand-craftsmanship and importance to the American and global economy.
The company is based in Deerfield, Illinois with operating and commercial locations around the world.
In the UK the Beam team celebrated by holding a charity fundraising event at the Teacher’s Building in Glasgow. Employees enjoyed cocktails from the Mixxit team, a Kentucky Derby race night, and lots of fun activities before linking to the US by webcast and piping in the exciting new era for Beam.
In recognition of Beam's listing on the New York Stock Exchange, representatives of the company will ring the closing bell at the NYSE on Friday, October 7th.
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