Beam begins trading on New York Stock Exchange

Published: 04 October, 2011

The world's fourth largest premium spirits company, Beam Global has begun trading as an independent company on the New York Stock Exchange.

Formerly known as Fortune Brands, Beam is the remaining company following the separation of Fortune Brands' businesses completed on October 3.

In the UK Beam operates the Laphroaig Distillery on Islay and the Ardmore Distillery in Aberdeenshire, as well as maturation facilities and an international customer service centre in Glasgow, and offices in Horsham.

The company distributes its many famous brands through Stirling based Maxxium UK.

Beam, the largest U.S. based spirits company owns Teacher's Scotch, Laphroaig Single-Malt Scotch, Jim Beam Bourbon, Maker's Mark Bourbon, Sourz, Sauza Tequila, Courvoisier Cognac, Canadian Club Whisky, Hornitos Tequila and Knob Creek Bourbon.

Matt Shattock, president and chief executive officer, said: "With the benefit of our portfolio transformation from 2005 to 2007, the enhanced routes to market we built in 2008 and 2009 and the turbocharged 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."

The company's annual sales were $2.7 billion in 2010 on volume of approximately 33 million 9-litre cases.

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 7.

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