Fortune sees ‘bright and prosperous’ future for Beam

25 February, 2011

Fortune Brands has said it sees a “bright and prosperous future for Beam Global as an independent spirits company”.

The statement follows speculation in the financial press that Diageo, Bacardi or Pernod Ricard could move in to acquire all or part of the drinks group.

In response to questions posed by Drinks International, Clarkson Hine, vice president of corporate communications and public affairs, described Beam as having the “scale and agility to outperform and consistently deliver strong profitable growth over the long term”.

Speculation surrounding the sale of Beam first arose in December following the announcement that Fortune Brands would separate into three distinct groups: distilled spirits, home and security, and golf products.

Hine added:  “The initiative to separate our businesses remains on track and unchanged. It includes the continuation of Fortune Brands as an independent public company focused solely on our Beam Global distilled spirits business.

“We’re confident the course we’ve outlined generates greater potential long-term value than all other alternatives.”

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