FDBusiness.com

Brown-Forman to Sell Southern Comfort and Tuaca Brands For $544 Million

 Breaking News
  • UK Supermarkets Sweep Up 17 Months of Growth UK supermarket sales have increased in value by 3.1% compared with last year according to the latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 8 October 2017. This marks the 17th period of growth in a row for Britain’s grocers. Like-for-like grocery inflation remains at 3.2% but consumers could be [...]...
  • Hilton Food Group to Expand to New Zealand Hilton Food Group, the UK-based specialist international meat packing business, is to proceed with plans to expand its packing capability to New Zealand. Hilton will construct a new meat processing facility in Auckland and supply Progressive Enterprises, New Zealand’s leading retailer, trading as Countdown Supermarkets. As Progressive Enterprises is also part of the Woolworths business, [...]...
  • From Measurement Data to Smart Actions Energy and process industry monitoring and control systems contain a lot of data, which is not always fully utilised. Data is also collected in different systems, which further hampers comprehensive overall management. The efficient use of measurement data is increasingly becoming a crucial factor in gaining a competitive advantage. Elomatic’s FORMIOT data analysis service offers support [...]...
  • Rocla’s Automation Solution Maximizes Storage Capacity and Saves Money Operations at Valio’s new whey powder factory started gradually in Autumn 2014. The main goal was to build a fully automated warehouse. Valio also needed to maximize the storage capacity in this space, and to be able to adjust the temperature and air humidity. At the warehouse there are 3 Rocla’s automated guided vehicles (AGVs) [...]...
  • Packaging Automation Helps Chicory Crops to Grow As a growing business Packaging Automation know how important it is to keep cash within the business and how hard it is to acquire the machines and equipment you need to grow. Packaging Automation want to help businesses to grow, adapt and keep up with what can be frighteningly fast paced growth without tying up [...]...

Brown-Forman to Sell Southern Comfort and Tuaca Brands For $544 Million

Brown-Forman to Sell Southern Comfort and Tuaca Brands For $544 Million
January 18
15:34 2016

Brown-Forman Corporation, the US-based international spirits group, has agreed to sell its Southern Comfort and Tuaca trademarks to Sazerac, one of New Orleans’ oldest family owned, privately held companies, for $543.5 million. The decision to sell these brands reflects Brown-Forman’s evolving portfolio strategy and a continuation of its efforts to focus resources on its highest strategic priorities. Brown-Forman has actively managed its portfolio over the last decade by developing, acquiring and divesting specific brands and categories with the aim of improving the growth and value creation prospects for its business.

Brown-Forman has marketed Southern Comfort since acquiring the brand in 1979. The company acquired Tuaca in two transactions, completing the purchase in 2002. The sale of these brands is expected to close by March 1, 2016 resulting in a one-time operating income gain for Brown-Forman of approximately $475 million in fiscal 2016. The transaction is subject to regulatory clearance in the US and customary closing conditions.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements