The company's foundation was lead in 1795 when James Beam began selling barrels of whiskey. By 1935, it was formally the James B. Beam Distilling Company. Ten years later, the Chicago spirits merchant Harry Blum bought the company, and in 1968 sold it to American Brands, Inc. In 1987, the James B. Beam Distilling Company purchased National Distillers and renamed itself the Jim Beam Brands Company, On January 13, 2014, Suntory announced a deal to buy Beam Inc. The acquisition was completed on April 30, 2014, when it was also announced that Beam would become a subsidiary named "Beam Suntory"