Fortune selling company brands

July 30, 2011 11:21:52 AM PDT
Deerfield-based Fortune Brands is one step closer to splitting up its company.

Fortune completed the $1.23 billion sale of its golf business Friday, which includes Titleist golf balls. Fortune sold its Footjoy brand to Korean investors, led by athletic company Fila.

Fortune announced last year it was splitting into three companies. It will keep its liquor business, led by Jim Beam bourbon, while selling units that make Moen faucets and master locks.