This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fortune Brands To Complete Spin-Off Of Home & Security Business And Become Pure-Play Spirits Company Named Beam

Fortune Brands, Inc. late today will complete the previously announced separation of its business units with the successful spin-off of the Fortune Brands Home & Security business (NYSE: FBHS). Immediately following the spin-off, Fortune Brands will change its name to Beam Inc. (NYSE: BEAM), reflecting its singular focus as a leading global premium spirits company. Each company will begin trading independently on the New York Stock Exchange effective tomorrow, Tuesday, October 4 th. The “FO” stock ticker symbol is being discontinued.

As previously announced, Fortune Brands stockholders will receive one share of Fortune Brands Home & Security in the spin-off for each share of Fortune Brands common stock they held of record as of September 20, 2011. Following the spin-off, Fortune Brands stockholders will retain shares in Beam (formerly Fortune Brands). Fortune Brands will also receive a cash dividend of $500 million from Home & Security prior to the spin-off.

“Completing the separation of Fortune Brands’ businesses creates the opportunity for shareholders to participate in the upside we see in two industry-leading businesses that have strong brands, sharply focused strategies, and proven and motivated management. Both businesses have strong momentum and are outperforming their respective markets,” said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. “I’m excited for the journey that lies ahead for both Beam and Home & Security. Each company has a future of great Fortune.”

“Beam begins its future as a pure-play spirits company with strong momentum and compelling growth prospects,” said Matt Shattock, president and chief executive officer of Beam. “We believe our unique combination of scale with agility, plus our focused strategy, position us well to outperform and consistently deliver strong, profitable, long-term growth in a highly profitable global industry.”

Chris Klein, chief executive officer of Fortune Brands Home & Security, said: “As we become a standalone company, we are executing well on our strategy, our proven business model is working, and we’re outperforming our markets. We see great opportunity to leverage our leadership positions, marketplace success, and lean and flexible cost structure to accelerate profitable growth as the housing market recovers.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs