Alcoholic drinks maker Diageo PLC does not need to purchase rival Beam Inc, its chief executive officer said on Tuesday, since it is expanding its existing whiskeys and launching new ones.Diageo has long been seen as a potential buyer of newly independent Beam, since Beam's array of bourbon whiskies would complement Diageo's two dozen Scotch brands, which include Johnnie Walker, J&B and Talisker."We don't need to" buy Beam, Menezes told reporters following a meeting with investors, referring to the maker of Jim Beam, Maker's Mark and Knob Creek."Fundamentally our position in total North American whiskey is strong," he said. Diageo already has 23 percent of the North American whiskey market, it says, with its Bulleit Bourbon, Crown Royal, George Dickel and 7 Crown, making it tied for No. 1 with Jack Daniels maker Brown Forman.
Beam Inc. (Beam) is a premium spirits company that makes and sells branded distilled spirits products in markets worldwide. Shares of BEAM fell by 0.03% or $-0.02/share to $67.64. In the past year, the shares have traded as low as $52.88 and as high as $70.63. On average, 850349 shares of BEAM exchange hands on a given day and today's volume is recorded at 882024.
Diageo plc (Diageo) is engaged in drinks business. Shares of DEO traded higher by 0.35% or $0.46/share to $130.74. In the past year, the shares have traded as low as $111.87 and as high as $134.08. On average, 431709 shares of DEO exchange hands on a given day and today's volume is recorded at 678459.
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