Beam Inc. (FO,BEAM) announced the completion of the acquisition of Cooley Distillery, the award-winning Irish whiskey producer. The purchase price was about $95 million on a debt-free basis.
Beam said it expects the acquisition to be earnings neutral in 2012 reflecting substantial initial brand investment, and increasingly accretive in future years.
The company stated that the acquisition includes the Kilbeggan, Connemara, Tyrconnell and Greenore brands, as well as aging inventory and Cooley's malt and grain distilleries in Dundalk and Kilbeggan, Ireland. Cooley is one of only three sources for Irish whiskey and was the category's only remaining independent producer.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.