UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
February 16, 1995 (February 16, 1995)
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Date of Report (Date of earliest event reported)
AMERICAN BRANDS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-9076 13-3295276
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
l700 East Putnam Avenue, Old Greenwich, Connecticut 06870-0811
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 698-5000
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<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
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Registrant's press release dated February 16, 1995 is filed
herewith as Exhibit 20 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
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20. Press release of Registrant dated February 16, 1995.
This Current Report shall not be construed as a waiver of the
right to contest the validity or scope of any or all of the provisions of
the Securities Exchange Act of 1934 under the Constitution of the United
States, or the validity of any rule or regulation made or to be made under
such Act.
SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of
1934, as amended, the Registrant has duly caused this Current Report to be
signed on its behalf by the undersigned thereunto duly authorized.
AMERICAN BRANDS, INC.
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(Registrant)
By Gilbert L. Klemann, II
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Gilbert L. Klemann, II
Senior Vice President
and General Counsel
Date: February 16, 1995
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EXHIBIT INDEX
Sequentially
Exhibit Numbered Page
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20. Press release of Registrant dated
February 16, 1995.
EXHIBIT 20
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FOR IMMEDIATE RELEASE
Contact: Roger W. W. Baker
(203) 698-5148
Daniel A. Conforti
(203) 698-5132
AMERICAN BRANDS WILL STATE LONG-TERM EARNINGS GOAL
AT CONSUMER ANALYST MEETING TODAY
Old Greenwich, CT, February 16 -- At a consumer analyst meeting
this morning in Scottsdale, Arizona, Thomas C. Hays, Chairman and
Chief Executive Officer of American Brands, Inc. will state:
"Our Company's long-term goal is to generate compound E.P.S.
growth in the range of 10%. We may not always hit this goal, but
this is what we hope to achieve over an extended period."
In his remarks before the Scottsdale meeting of the Consumer
Analyst Group of New York, Mr. Hays will also state: "We believe
this goal is realistic, assuming the key economies remain sound,
the exchange rate for the British pound remains reasonably stable
and, of course, a satisfactory pricing environment, because the
new American Brands is now a consumer powerhouse. In every
category, our brands command leadership positions."
American Brands sold The American Tobacco Company for $1
billion in December, 1994. Last month, American Brands sold its
Franklin Life Insurance business for $1.17 billion and also
announced that it intends to dispose of a number of nonstrategic
businesses and product lines, with anticipated proceeds in the
range of $150-175 million.
In connection with the sale of American Tobacco and
Franklin, the American Brands Board authorized the purchase of up
to 20 million shares of Common stock. Mr. Hays will observe that
by the end of last week, the Company had already purchased over 9
million shares.
In discussing three of American Brands' operations with
strong growth profiles -- hardware, office products and golf --
Mr. Hays will note that each achieved double digit growth in
operating company contribution in 1994, and "our goal is
continued double digit overall contribution growth for these
operations. As these businesses become a greater part of our
mix, achieving our overall E.P.S. goal will be aided, primarily
through internal growth as well as potential add-on
acquisitions."
The Company will also indicate that in 1994, cash flow from
continuing operations was $996 million, and was $846 million even
excluding its former American Tobacco Company subsidiary.
* * * * *
American Brands is a focused consumer products company with
powerhouse brands and leading market positions in international
tobacco, distilled spirits, hardware and home improvement
products, office products and golf and leisure products.
The international tobacco business, Gallaher Tobacco, is the
number 1 tobacco company in the U.K. and has an expanding
presence on the European continent. Gallaher's major brands
include Benson and Hedges, Silk Cut and Berkeley.
In distilled spirits, leading brands include Jim Beam and
Old Grand-Dad bourbons, DeKuyper and Leroux cordials and
liqueurs, Windsor and Lord Calvert Canadian whiskies, Kessler
American Blended Whiskey, Gilbey's gin and vodka, Kamchatka,
Wolfschmidt and Vladivar vodkas and Ronrico rum along with The
Dalmore, The Claymore and Whyte & Mackay Special Reserve Scotch
whiskies. The MasterBrand Industries hardware and home
improvement business includes Moen, Master Lock, Aristokraft and
Waterloo. ACCO World office product brands include Swingline,
Wilson Jones, Day-Timers, Rexel and Twinlock. Golf and leisure
brands include Titleist, Pinnacle and Foot-Joy and DryJoys golf
products.
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2/16/95
