News Briefs For April 26, 2011April 26, 2011
• Earlier today, Fortune Brands announced that it will operate under a new name—Beam Inc-following the completion of its plan to become a pure-play spirits business. In December 2010, Fortune announced that it would sell or spin off its home and security and golf units in order to focus solely on spirits. That strategy was reaffirmed at today’s shareholders meeting, at which the name change was also confirmed.
• Beam Global Spirits & Wine and the DeKuyper cordial brand have launched JDK & Sons 03 Premium Orange Liqueur in the U.S. An all-natural, 80-proof liqueur named for the three essential elements of its Brazilian pera orange flavoring (rind, juice and pulp), 03 is available at U.S. retail outlets, bars and restaurants this month, priced at $19.99 per 750ml.
• Seattle-based distributor Odom Corp has promoted Dick Barkett to president and chief operating officer. Barkett had been serving as chief operating officer since joining Odom in 2001. He reports to company chairman and CEO John Odom. Odom Corp has operations in Washington state, Alaska, Idaho and Oregon.
• New York-based auctioneer Acker, Merrall Condit announced that its April 21st auction of fine and rare wines had a sales total of $3,498,106. The event, held at New York’s Al Fiori restaurant, included 829 lots, 97% of which were sold.
• Restaurant chain Firebirds Wood Fired Grill, an 18-unit operation based in Charlotte, North Carolina, has been sold to Angelo, Gordon & Co., a New York-based money management firm. Formerly known as Firebirds Rocky Mountain Grill, the upscale casual chain operates in North Carolina, Pennsylvania, Alabama, Tennessee, Delaware, Nebraska, Arizona and Virginia.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.