Wednesday, October 05, 2011
Beam Inc. Begins Trading on New York Stock Exchange
(by Shanken News Daily) Former Fortune Brands division Beam Inc. began trading as an independent company on the New York Stock Exchange October 4, 2011, completing its transformation into a stand-alone global spirits entity. Fortune Brands announced last April that it would operate as Beam Inc., following a decision to sell off its home and security and golf units to focus solely on spirits. Beam Inc. is the world’s fifth-largest spirits marketer, with a global volume of 33.5 million cases and annual sales of around $2.7 billion in 2010.