Fortune Brands plans to split itself into as many as three parts, The Wall Street Journal reported, citing people familiar with the matter.

The board of the maker of Jim Beam bourbon, Moen faucets and Titleist golf balls approved the plan in principle yesterday, the Journal reported.

The decision to split in three comes on the heels of activist shareholder William Ackman’s disclosure of an 11 percent stake in the Deerfield, Ill., company.