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Sazerac to Expand Portfolio with Acquisition of Select Alcohol Brands from Brown-Forman.

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MANews-(C)2009-2020

Kentucky, US-based spirits and wines company Brown-Forman Corp. (NYSE: BFA) (NYSE: BFB) has agreed to sell the Early Times, Canadian Mist, and Collingwood brands, and the Canadian Mist production assets, to US distillery Sazerac, the company said.

Terms of the transaction were not disclosed.

This sale reflects the continued evolution of the company's portfolio strategy to focus on premium brands. Brown-Forman has actively managed the shape and contents of its portfolio over the last decade and a half through developing, acquiring, and divesting various businesses and brands.

The company believes this portfolio management, alongside innovation, will allow it to continue to focus on the best growth prospects and value creation over the long term.

Gibson, Dunn and Crutcher LLP advised Brown-Forman in this transaction. Cooley LLP provided legal advice to Sazerac.

Brown-Forman Corp. has enriched...

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