American Brands
$ 6.695 billion (2009) | |
$ 505.20 million (2009) | |
$ 242.80 million (2009) | |
Total assets | $ 12.370 billion (2009) |
Total equity | $ 5.106 billion (2008) |
Number of employees | 24,248 (2009) |
Fortune Brands was a
History
The American Tobacco Company was founded in 1890. In the late 1960s, with health concerns seen as posing an increasing threat to the tobacco business, management decided to diversify into other fields and changed the corporate name to American Brands, Inc. Brown & Williamson acquired the tobacco division in 1994.
Former divisions
Tobacco
American Tobacco Company was the original division of American Brands. American Tobacco was sold to British American Tobacco in 1994.[8]
Insurance
American Brands acquired Franklin Life Insurance in 1979. It sold the company to
ACCO
In 1987 American Brands acquired ACCO, a holding company which owned several office supply subsidiaries. Stapler manufacturer Swingline, Inc., which American Brands had acquired in 1970, was combined with ACCO. In 2005, the company spun off ACCO to shareholders, and immediately thereafter ACCO merged with General Binding Corporation. This merged company is now known as ACCO Brands.[10]
Golf
The
Home and hardware
The home and hardware division reached annual sales of over $4 billion, from Waterloo Industries, Moen faucets, Fypon, Therma-Tru doors, Simonton windows, Master Lock, American Lock, and Vista Window Company, Western Division. Many of these operations passed to Fortune Brands Home & Security when the company was split.
Spirits
Fortune Brands had a stable of well known
In July 2005, Fortune Brands and French spirits company Pernod Ricard acquired over 25 additional spirits and wine brands from British holding company Allied Domecq. In November 2007,
After the other product lines were sold and spun off, the remaining spirits business became
References
- ^ York, Emily Bryson. "Fortune Brands to split into 2 public companies". chicagotribune.com. Retrieved 2019-10-21.
- ^ Aaron Smith, Jim Beam, neat, is company's new strategy, CNN Money, December 8, 2010.
- ^ Fortune Brands Announces Intent to Separate Company's Three Businesses Archived 2020-10-02 at the Wayback Machine, The Wall Street Journal, December 8, 2010.
- ^ Fortune Brands Home & Security Now Independent, Begins Trading on NYSE Archived October 13, 2011, at the Wayback Machine, Businesswire, October 4, 2011.
- ^ Horovitz, Bruce (January 13, 2014). "Suntory buys spirits maker Beam for $13.6B". USA Today.
- ^ Beam Suntory completes acquisition of Beam Inc, Suntory.com, 30 April 2014.
- ^ Pfanner, Eric (May 15, 2014). "Suntory Still has M&A Thirst". The Wall Street Journal. Retrieved March 1, 2016.
- ISSN 0362-4331. Retrieved 2014-11-11.
- ^ "American General Deal Enfolds Franklin Life For $1.17 Billion Cash". Chicago Tribune. Retrieved 2014-11-11.
- ^ Fortune Brands and General Binding Corporation announce further progress toward creation of ACCO Brands Corporation Joint press release of Fortune Brands and GBC dated July 19, 2005
- ^ "Beam Suntory – History (slideshow)". Beam Suntory. Archived from the original on July 7, 2017. Retrieved August 5, 2017.