Beam Inc. (0.9%) (BEAM)(BEAM - $83.30 – NYSE), headquartered in Deerfield, Illinois, is a leading producer of distilled spirits with brands including Jim Beam, Sauza, Maker's Mark, Courvoisier, Pinnacle, Cruzan, Knob Creek, Skinnygirl, and Effen. Beam competes in the ~$500 billion global spirits industry and is the leader in the $7 billion bourbon whiskey category, which is currently the fastest growing market segment in the U.S. Beam has strong brands, pricing power, top and bottom line momentum, and is one of the only companies in the industry without a family that owns a controlling stake in the business. As such, we have long considered Beam a compelling acquisition candidate for strategic acquirers. On January 13, 2014, Beam announced that it agreed to be acquired by privately held beverage producer Suntory Holdings of Japan for $83.50 per share in cash. The acquisition is expected to close in the second quarter of 2014.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund's first quarter 2014 shareholder commentary.
