Titleist/FootJoy will be spun off or sold

Updated: December 8, 2010, 4:55 PM ET
Associated Press

NEW YORK -- Consumer products maker Fortune Brands Inc. plans to split into three companies, keeping its liquor business led by Jim Beam bourbon while shedding the units that make Titleist golf balls, Moen faucets and Master Locks.

Fortune Brands said Wednesday it will focus on its spirits business which generates annual revenue of $2.5 billion and also includes brands such as Canadian Club and Maker's Mark.

The home and security business, which also includes MasterBrand cabinets, ...

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