In a rare statement, Brown-Forman Corporation said they are not for sale. Rumor has it that the company has received an unsolicited offer from industry rival Constellation Brands.
Brown-Forman Corporation with headquarters in Louisville, Kentucky issued the following statement from Geo. Garvin Brown IV, Chairman of the Board of Directors, and Paul C. Varga, Chief Executive Officer: “As a matter of corporate policy, Brown-Forman does not comment on market rumors or speculation. However, it is important to reiterate that Brown-Forman is not for sale. For nearly 150 years, the Company and the Brown family have been committed to preserving Brown-Forman as a thriving, family controlled, independent company. That commitment is unchanged, and our goal is to continue creating value for all shareholders for generations to come.”
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For nearly 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Finlandia, Korbel, el Jimador, Woodford Reserve, Old Forester, Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times, Chambord, BenRiach and GlenDronach. Brown-Forman’s brands are supported by nearly 4,600 employees and sold in approximately 160 countries worldwide.
Constellation Brands, founded in 1945 and based in Victor, N.Y., is the No. 3 beer company in the U.S. with brands such as Corona, Modelo, Pacifico and Ballast Point, a craft brewer in the U.S. In addition, Constellation owns wine brands Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino and The Prisoner. The company’s spirits brands include SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey. The company has 100 brands in its portfolio, about 40 facilities and approximately 8,000 talented employees.