Beam Suntory

Beam Suntory
Subsidiary
Industry Distilled beverages
Founded October 4, 2011 (2011-10-04)
Founder Remainder company created from Fortune Brands
Headquarters Chicago, Illinois, United States
Area served
 Worldwide
Key people
 Matthew John Shattock (CEO & President), John Owen (CFO)
Products Spirits
Revenue IncreaseUS$ 2.46 billion (FY 2012)[1]
Increase$ 5.75 million (FY 2012)[1]
Decrease$ 3.82 million (FY 2012)[1]
Total assets Increase $ 8.64 billion (FY 2012)[1]
Total equity Increase $4.61 million (FY 2012)[1]
Number of employees
 3400 [1]
Parent Suntory
Website www.beamsuntory.com

Beam Suntory, Inc. is a subsidiary of Suntory Beverage & Food Ltd, which itself is a subsidiary of Suntory Holdings of Osaka, Japan. Its headquarters is in Chicago, Illinois. It is a producer of distilled beverages.

The company's principal products include bourbon whiskey, tequila, Scotch whisky, Irish whiskey, Canadian whisky, vodka, cognac, rum, cordials, and ready-to-drink pre-mixed cocktails.

History

The company's foundation was lead in 1795 when James Beam began selling barrels of whiskey. By 1935, it was formally the James B. Beam Distilling Company. Ten years later, the Chicago spirits merchant Harry Blum bought the company, and in 1968 sold it to American Brands, Inc. In 1987, the James B. Beam Distilling Company purchased National Distillers and renamed itself the Jim Beam Brands Company. It was known as Jim Beam Brands Worldwide, Inc., by the time Fortune Brands purchased it in 2005. The following year, the company was renamed Beam Global Spirits & Wine, Inc. It separated from Fortune Brands to become to form its own independent, publicly traded company, Beam Inc., in 2011. Three years later, it was purchased by Suntory Holdings.[2]

As a distinct entity, the company was established as Beam Inc. on October 3, 2011, from the remainder of the Fortune Brands holding company after it sold and divested various other product lines to form a business focused exclusively on spirits and directly related products.[3]

On December 16, 2011, Beam Inc., agreed to buy the only independent Irish whiskey distiller that existed at the time, the Cooley Distillery, for $95 million.[4] On April 23, 2012, Beam announced it would acquire the Pinnacle vodka and Calico Jack rum brands for $600 million.[5]

Previous logo

On January 13, 2014, Suntory announced a deal to buy Beam Inc. for about $13.6 billion.[6] The acquisition was completed on April 30, 2014, for a final cost of about $16 billion – when it was also announced that Beam would become a subsidiary named "Beam Suntory".[7][8] Suntory Beverage & Food Ltd trades on the Tokyo Stock Exchange (2587). In March 2016, the company announced it would move its headquarters to the Merchandise Mart building on Chicago's Near North Side;[9] Beam Suntory is subleasing 110,000 sq ft on the 16th floor of the Mart from Motorola Mobility.[10]

The Chicago Cubs and Beam Suntory announced a long-term sponsorship deal in January 2017, making Beam the official spirits partner of the Cubs and Wrigley Field.[11]

Products

The company's self-produced brands include the following:

The company sells its products to wholesale distributors, state governments, third party distributors, global or regional duty-free customers, other spirits producers, and joint ventures.

In addition to brands produced directly by the company and its subsidiaries, it imports and markets some brands produced by others, such as the DeKuyper cordial. Additionally, Beam facilities produce spirits for brands owned by other companies, such as Calvert Extra blended whiskey, now owned by Luxco.

The company also previously sold Harveys Bristol Cream sherry, as well as the brandy brands Fundador, Terry Centenario, and Tres Cepas, before selling these brands to Grupo Emperador Spain S.A., part of the Alliance Global Group.[12][13]

References

  1. 1 2 3 4 5 6 "Beam, Inc. (BEAM)-Key Statistics". Yahoo! Finance.
  2. ↑ "History". (slideshow) Beam Suntory. Archived from the original on July 7, 2015. Retrieved August 5, 2017.
  3. ↑ "Beam Inc. Begins Life as a Pure-Play Spirits Industry Leader". TheStreet.com. October 4, 2011. Retrieved March 1, 2016.
  4. ↑ (December 16, 2011). "Cooley Distillery Sold for $95M". Irish Examiner. Retrieved January 11, 2012.
  5. ↑ "Beam buys Pinnacle Vodka and Calico Jack rum from White Rock". USA Today. Associated Press. April 23, 2012. Retrieved November 24, 2012.
  6. ↑ Horovitz, Bruce (January 13, 2014). "Suntory buys spirits maker Beam for $13.6B". USA Today.
  7. ↑ Beam Suntory, Suntory press release, April 30, 2014.
  8. ↑ Pfanner, Eric (May 15, 2014). "Suntory Still has M&A Thirst". The Wall Street Journal. Retrieved March 1, 2016. (Subscription required (help)).
  9. ↑ Frost, Peter (February 29, 2016). "Beam Suntory moving HQ to Merchandise Mart". Crain's Chicago Business.
  10. ↑ Beam Suntory opens Merchandise Mart headquarters Chicago Tribune December 5, 2016
  11. ↑ Cubs strike long-term sponsorship deal with Beam Suntory Chicago Tribune January 12, 2017
  12. ↑ Arceo-Dumlao, Tina (December 1, 2015). "Andrew Tan’s Emperador buys Spain’s Fundador". Philippine Daily Inquirer.
  13. ↑ Eads, Lauren (November 30, 2015). "Beam Suntory Sells Sherry and Brandy Business for €275 million". The Drinks Business. London, England: Union Press Ltd. Archived from the original on December 12, 2015.
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