The board of directors intends to continue as an independent publicly traded company focusing on distilled spirits. Home and security will be spun off into an independent, publicly traded company and the golf business will either by spun off or sold.
The management has been told to split the businesses prior to final approval from the board.
Beam Global Spirits & Wine has an annual revenue of $2.5 billion. It claims to be the largest US-based spirits company and the fourth largest premium spirits business in the world. It is the world leader in bourbon with Jim Beam, Maker’s Mark and Knob Creek. Other brands include Canadian Club, Laphroaig, the Islay single malt scotch whisky and Teacher’s the blended scotch. It has tequila brands Sauza, Hornitos and El Tesoro, Courvoisier cognac, Cruzan rum and Effen vodka.
The news has immediately sparked speculation that the likes of Diageo and Bacardi are likely to bid for the remaining company and carve up the drinks brands.