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
June 15, 1998 (June 12, 1998)
---------------------------------------------------------------------------
Date of Report (Date of earliest event reported)
FORTUNE BRANDS, INC.
---------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-9076 13-3295276
- ---------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
l700 East Putnam Avenue, Old Greenwich, Connecticut 06870-0811
---------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 698-5000
----------------------
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
- ------ ------------
Registrant's press release dated June 12, 1998 is filed herewith as
Exhibit 20 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
- ------ ---------------------------------
(c) Exhibits.
--------
20. Press release of Registrant dated June 12, 1998.
<PAGE>
SIGNATURE
---------
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.
FORTUNE BRANDS, INC.
--------------------
(Registrant)
By Charles H. McGill
--------------------------------
Charles H. McGill
Senior Vice President -
Corporate Development
Date: June 15, 1998
<PAGE>
EXHIBIT INDEX
Sequentially
Exhibit Numbered Page
- ------- -------------
20. Press release of Registrant dated
June 12, 1998.
EXHIBIT 20
NEWS RELEASE
Fortune Brands, Inc., 1700 East Putnam Avenue, Old Greenwich, CT 06870
Contact:
Anthony J. Diaz
(203) 698-5553
FORTUNE BRANDS COMPLETES PURCHASE OF
SCHROCK CABINET COMPANY --
NEARLY DOUBLING CABINET SALES
Old Greenwich, CT, June 12, 1998 -- Fortune Brands, Inc. (NYSE-FO), the consumer
products company, announced today that its home products business has completed
the purchase of assets of the Schrock Cabinet Company, a division of White
Consolidated Industries, Inc., which is a wholly-owned subsidiary of AB
Electrolux of Sweden. Fortune Brands had announced on June 3 that an agreement
to acquire Schrock had been reached.
The addition of Schrock nearly doubles sales in the kitchen and bath
cabinet category, where the Company's Aristokraft unit already has a strong
position. Schrock and Aristokraft had combined 1997 sales of $430 million. The
combination creates a strong number 2 market presence in the U.S. The purchase
price is $107.5 million in cash, and the acquisition is expected to add to
E.P.S. right from the start.
Fortune Brands' strategy is sharply focused on revenue growth, cost
initiatives and asset management, supplemented by high-return, add-on
acquisitions. With the acquisition of Schrock, the Company has completed seven
add-on acquisitions since the beginning of 1997, adding approximately $430
million in annualized sales at a price of approximately 65 cents per dollar of
sales.
* * * *
Fortune Brands, Inc. is a consumer products company with headquarters in
Old Greenwich, Connecticut. Its operating companies have premier brands and
leading market positions in home and office products, golf equipment and
distilled spirits. Home and office brands include Moen faucets, Master locks and
Aristokraft cabinets sold by units of MasterBrand Industries and Day-Timer and
Swingline sold by units of ACCO World Corporation. Acushnet Company's golf
brands include Titleist, Cobra and FootJoy. Major distilled spirits brands sold
by units of Jim Beam Brands Worldwide, Inc. include Jim Beam and Knob Creek
Bourbon, DeKuyper cordials and Whyte & Mackay Scotch.
* * *
This press release contains statements relating to future results, which
are forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from those
projected as a result of certain risks and uncertainties, including but not
limited to changes in general economic conditions, foreign exchange rate
fluctuations, competitive product and pricing pressures, the impact of excise
tax increases with respect to distilled spirits, regulatory developments, the
uncertainties of litigation, the impact of weather, particularly on the home
products and golf brand groups, expenses and disruptions related to shifts in
manufacturing to different locations and sources, delays in the integration of
recent acquisitions, as well as other risks and uncertainties detailed from time
to time in the Company's Securities and Exchange Commission filings.
# # #
