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Fortune Brands Inc (FBI)


Friday 16 April, 2010

Fortune Brands Inc

Fortune Brands Completes Sale of Cobra Golf Bra...

Fortune Brands Completes Sale of Cobra Golf Brand to PUMA

Fortune Brands, Inc.

Fortune Brands, Inc. (NYSE:FO) today completed the previously announced sale of the Cobra golf brand to PUMA AG. The transaction includes the Cobra brand, as well as related inventory, intellectual property and endorsement contracts.

“The sale of the Cobra brand enables us to focus all of our energy and resources in golf on growing our higher return, industry-leading Titleist and FootJoy brands, which give us the #1 position in golf balls, shoes and gloves and a leading position in high-performance clubs,” said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. “While Cobra is a terrific brand and we wish it all the best, Titleist has grown to be our top-selling golf club brand and we believe its global growth can accelerate with the undivided attention of our sales organization and marketing resources.”

As previously announced, Fortune Brands’ golf business, Acushnet Company, will provide transition services to PUMA on behalf of Cobra – including production, distribution, field sales and customer service – for an agreed-upon period of time.

Financial terms of the pending transaction have not been disclosed.

About Fortune Brands

Fortune Brands, Inc. is a leading consumer brands company. Its operating companies have premier brands and leading market positions in distilled spirits, home and security, and golf products. Beam Global Spirits & Wine, Inc. is the company's premium spirits business. Major spirits brands include Jim Beam and Maker's Mark bourbon, Sauza tequila, Canadian Club whisky, Courvoisier cognac, Cruzan rum, Teacher's and Laphroaig Scotch, EFFEN vodka and DeKuyper cordials. The brands of Fortune Brands Home & Security LLC include Moen faucets, Aristokraft, Omega, Diamond and Kitchen Craft cabinetry, Therma-Tru door systems, Simonton windows, Master Lock security products and Waterloo storage and organization products. Acushnet Company's golf brands include Titleist 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 and the MSCI World Index.

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