CLERMONT, KY (WDRB) -One of the world’s largest bourbon producers has become a stand-alone spirits company entering the stock market in a time when public distaste for Wall Street is growing. Fortune Brands, Inc. has officially change its name to Beam, Inc. – as in Jim Beam.
The move is designed to stream-line the company’s product line and bring in more revenue into Kentucky – where most of the world’s bourbon is produced.
“We are the fourth largest spirit company in the world … the number one in the U.S. So I guess you would say the skies the limit for us right now,” said master distiller Fred Noe (Jim Beam’s great-grandson).
The move has been months in the making and signifies a bold move for the famed bourbon manufacturer, however whispers of the company being purchased by one of the giant spirit companies Diageo or Pernod Ricard seem to be circling this new direction –reports the Association Of Bourbon Samplers-.While neither company appears to be in a rush to purchase Beam, the brand represents the best value brands among their specific categories, and has cache as an American icon that many feel has a significant value unto itself.