Beam Global Spirits & Wine, Inc. Reaffirms Confidence in Maxxium.DEERFIELD, Ill. -- Following Remy Cointreau's announcement today that it will leave the Maxxium distribution joint venture as of March 30, 2009, Beam Global Spirits & Wine, Inc. [Fortune Brands, Inc. (NYSE NYSE See: New York Stock Exchange :FO)] reaffirmed its confidence in Maxxium. "We do not expect Remy Cointreau's eventual departure from Maxxium to have a material adverse impact on our results or those of our parent company, Fortune Brands," said Tom Flocco, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Beam Global Spirits & Wine. "As Maxxium has indicated, the Maxxium partners have plenty of time to successfully manage the transition. It's important to recognize that Remy Cointreau's brands account for only about 15% of Maxxium's case volume, and their volume is even smaller in Beam Global's most important global markets. Even without Remy Cointreau's brands, Maxxium will be significantly larger than it was when the alliance was created with three partners in 1999." "Given the combined strengths of our recently enhanced portfolio and the brands of V&S Group and The Edrington Group, we're confident Maxxium will continue to be an important asset in providing both effective and efficient market access for our brands in many key markets around the world," Flocco concluded. Maxxium Worldwide is the premium spirits and fine wines distribution joint venture among Remy Cointreau, Beam Global Spirits & Wine, The Edrington Group and V&S Group. It was established in 1999 and expanded to include V&S Group in 2001, and operates in most major spirits markets outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . About Beam Global Spirits & Wine Beam Global Spirits & Wine, Inc. is the fourth largest spirits company in the world. With nine of the world's top-100 premium spirits in its portfolio, the company's brands hold global and national leadership positions in key categories, including Jim Beam Jim Beam is a brand of bourbon whiskey, distilled in Clermont, Kentucky. This brand of whiskey has been distilled since 1795. The Jim Beam brand is owned by Beam Global Spirits & Wine, which is in turn owned by holding company Fortune Brands. [R] bourbon; Canadian Club This article refers to the Canadian Club brand of whisky. For the Toronto club which hears speeches from prominent individuals, see Canadian Club of Toronto. [R] Canadian whisky; Courvoisier[R] cognac; Laphroaig[R] Scotch; Sauza[R] tequila; Larios[R] gin; Whisky DYC DYC Division of Youth Corrections DYC Diocesan Youth Council DYC Destilerías Y Crianza (Spanish whiskey) DYC Direct Yaw Moment Control [R]; Teacher's[R] Scotch; and DeKuyper[R] cordials. The portfolio also includes Maker's Mark[R] bourbon, Knob Creek[R] bourbon and The Small Batch Bourbon Collection[R], and Starbucks[TM] Liqueurs Liqueurs are high-alcohol, high-sugar beverages with added flavorings usually derived from herbs, fruits, or nuts. Liqueurs are distinct from flavored liquors, fruit brandy and eau de vie which contain no sugar. Most liqueurs range between 15 and 70 percent alcohol by volume. . Beam Wine Estates is a top-five super-premium wine company in the U.S., featuring Clos du Bois[R], the number two super-premium U.S. wine brand, and the award-winning Geyser geyser (gī`zər) [Icel.], hot spring from which water and steam are ejected periodically to heights ranging from a few to several hundred feet. Peak[R] wines. Beam Global Spirits & Wine, Inc. is part of Fortune Brands, Inc. (NYSE:FO), a $8 billion leading consumer brands company. For more information on Beam Global Spirits & Wine and the company's sales and distribution partners, please visit www.beamglobal.com. [c] 2006 Beam Global Spirits & Wine, Inc., Deerfield, IL. |
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