Beam Inc., Deerfield, Ill., reported a net sales increase by 8 percent to $577.7 million, excluding excise taxes, in the first quarter of 2013, benefiting from strong commercial performance and the acquisition of Pinnacle Vodka. On a comparable basis, net sales increased 3 percent, reflecting the comparison to the quarter from the previous year when new product introductions and route-to-market transitions helped comparable net sales increase 13 percent, the company reports.
Beam Inc., Deerfield, Ill., announced a definitive agreement with White Rock Distilleries, Lewiston, Maine, to acquire Pinnacle Vodka, Calico Jack rum and other related assets for $605 million in cash. Pinnacle Vodka’s 2012 volumes are expected to exceed 3 million 9-liter cases and will significantly enhance Beam’s presence in the growing vodka category, the company said.