Jul 30, 2014

Business Roundup: Beam, Inc, Makes News Here and Abroad

Maker of spirits tries to develop its Russian business. Local Executive promoted by American Jewish Committee.

Business Roundup: Beam, Inc, Makes News Here and Abroad

Deerfield based Beam, Inc., was in the news this week both for its effort to penetrate the Russian market and its charitable donations to help the victims of Hurricane Sandy, according to a news release from the company and other sources.

Beam is making an effort to persuade traditionally vodka loving Russians to consume more Jim Beam Bourbon and Maker’s Mark Whiskey, according to an article on Bloomberg. Increasing prosperity in Russia has whetted that country’ appetite for imported liquor.

Beam hopes to double its sales in Russia and eventually derive 25 percent of its business from emerging markets, according to Bloomberg. The effort is succeeding despite attempts by the government to reduce alcohol consumption in the country.

Meanwhile, Beam has donated $100,000 to the American Red Cross earmarked for victims of Hurricane Sandy, according to the release. Half of the donation comes from Beam’s Skinnygirl brand of low calorie cocktails.

“The thoughts of everyone at Beam are with the millions of people whose lives have been impacted by Hurricane Sandy,” President and CEO Matt Shattock said in the release.  “Beam is proud to team up with so many of our business partners, peer companies and countless individuals to support the critical relief efforts of the American Red Cross and help impacted communities get back on their feet.”

The company will also match donation from individual employees up to $1,000.00.

In other Deerfield related business news, local resident Daniel Elbaum, the head of the American Jewish Committee’s Chicago office, has been promoted to oversee all regional offices, according to a story in Jewish Business News.

Elbaum will bring the New York based job to Chicago, according to Jewish Business News. Among other things, he has created the Midwest Diplomatic Marathon, began an outreach program with the National Museum of Mexican Art and has forged a relationship with the midwest Mormon Church.

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