Fortune Brands is expected to announce today the break-up of its company into possibly three separate businesses, one of which would remain independent and publicly traded and focused on liquor brands
that include Jim Beam and Maker's Mark bourbon as well as Sauza tequila.
Its home unit -- including Moen faucets, Aristokraft cabinets and Simonton window -- and its golf division -- which
makes FootJoy shoes and gloves as well as Titleist golf balls -- would be spun off or sold. The newspaper reports that Fortune Brands made this decision now because of an improving economy, an uptick
in demand for spirits and recent deals made with major retailers.
The company plans to develop detailed plans for the breakup over the next several months and present them for final approval
from its board of directors.
advertisement
advertisement
Read the whole story at Wall Street Journal »