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Fortune Brands Inc (FBI)


Monday 17 December, 2007

Fortune Brands Inc

Fortune Brands Completes $885 Million Sale of W...

Fortune Brands, Inc.
                  Fortune Brands, Inc. (NYSE: FO) today completed the previously announced sale of
its U.S. wine business to Constellation Brands (NYSE: STZ). The price was $885
million. Coupled with the sale earlier this year of two wine brands to E. & J.
Gallo Winery, Fortune Brands has realized total consideration for its wine unit
well in excess of $900 million.

'The sale of our wine business will help us drive shareholder value in a couple
of meaningful ways,' said Norm Wesley, chairman and chief executive officer of
Fortune Brands. 'It will help enhance the already high returns in our premium
spirits business, which is the segment that generates our largest profit.
Naturally, it will also increase our financial flexibility to focus resources on
value-creating opportunities.'

The wine brands in the transaction with Constellation - which include Clos du
Bois, Geyser Peak, Wild Horse, Buena Vista Carneros and Gary Farrell - had sales
in 2006 of 2.6 million 9-liter cases and revenues of $214 million including
excise taxes. In addition to the wine brands, the transaction also included the
associated vineyards, winemaking assets and sales organization. The previous
transaction with Gallo included the William Hill and Canyon Road wine brands and
related assets.

Fortune Brands was advised on the transaction by Citi and Credit Suisse as
financial advisors and Pillsbury Winthrop Shaw Pittman as legal advisor.

About Fortune Brands

Fortune Brands, Inc. is a leading consumer brands company with annual sales
exceeding $8 billion. Its operating companies have premier brands and leading
market positions in spirits and wine, home and hardware products, and golf
equipment. Beam Global Spirits & Wine, Inc. is the company's spirits and wine
business. Major spirits brands include Jim Beam and Maker's Mark bourbons, Sauza
tequila, Canadian Club whisky, Courvoisier cognac, DeKuyper cordials,
Starbucks(TM) liqueurs and Laphroaig single malt Scotch. Home and hardware
brands include Moen faucets, Aristokraft, Omega, Diamond and Kitchen Craft
cabinetry, Therma-Tru door systems, Simonton windows, Master Lock padlocks and
Waterloo tool storage sold by units of Fortune Brands Home & Hardware LLC.
Acushnet Company's golf brands include Titleist, Cobra and FootJoy. Fortune
Brands, headquartered in Deerfield, Illinois, is traded on the New York Stock
Exchange under the ticker symbol FO and is included in the S&P 500 Index, the
MSCI World Index and the Ocean Tomo 300(TM) Patent Index.

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Forward-Looking Statements

This press release contains statements relating to future results, which are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Readers are cautioned that these forward-looking
statements speak only as of the date hereof, and the company does not assume any
obligation to update, amend or clarify them to reflect events, new information
or circumstances occurring after the date of this release. Actual results may
differ materially from those projected as a result of certain risks and
uncertainties, including but not limited to: competitive market pressures
(including pricing pressures); consolidation of trade customers; successful
development of new products and processes; ability to secure and maintain rights
to intellectual property; risks pertaining to strategic acquisitions and joint
ventures, including the potential financial effects and performance of such
acquisitions or joint ventures, and integration of acquisitions and the related
confirmation or remediation of internal controls over financial reporting;
changes related to the potential privatization of V&S Group; ability to attract
and retain qualified personnel; general economic conditions, including the U.S.
housing market; weather; risks associated with doing business outside the United
States, including currency exchange rate risks; interest rate fluctuations;
commodity and energy price volatility; costs of certain employee and retiree
benefits and returns on pension assets; dependence on performance of
distributors and other marketing arrangements; the impact of excise tax
increases on distilled spirits and wines; changes in golf equipment regulatory
standards and other regulatory developments; potential liabilities, costs and
uncertainties of litigation; impairment in the carrying value of goodwill or
other acquired intangibles; historical consolidated financial statements that
may not be indicative of future conditions and results due to the recent
portfolio realignment; any possible downgrades of the company's credit ratings;
as well as other risks and uncertainties detailed from time to time in the
company's Securities and Exchange Commission filings.

Fortune Brands Inc.
Media Relations:
Clarkson Hine
(847) 484-4415
Investor Relations:
Tony Diaz
(847) 484-4410

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