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Jim Beam moves a step closer to being sold

Jim Beam looks likely to be soldFortune Brands, the current owner of the Jim Beam bourbon whisky brand – and maker of the drink – has split itself up. This makes the prospect of the Jim Beam part of the business being sold even more likely. UK giant Diageo, owners of Guinness and Smirnoff, is probably going to be the buyer.

The home and security parts of the Fortune Brands business have been separated from the main while the golf unit will either be sold or spun-off similarly.

It is unlikely Diageo will be able to buy the entire Fortune Brands liquor business because of competition law. It is widely though, however, that Diageo is very keen to expand its bourbon whisky business and portfolio, particularly in the US.

 

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