Brown-Forman Completes Sale of Sonoma-Cutrer Vineyards
Brown Forman Inc Class A (BF.A)
US:NYSE Investor Relations:
investors.brown-forman.com/investor-relations
Company Research
Source: Business Wire
LOUISVILLE, Ky.--(BUSINESS WIRE)--Brown-Forman (NYSE: BFA, BFB) announced today that it completed the sale of Sonoma-Cutrer Vineyards and related brand trademarks to The Duckhorn Portfolio, Inc. (NYSE: NAPA), a premier wine group, on April 30, 2024. In November 2023, Brown-Forman disclosed it had reached an agreement to sell the brand in exchange for an ownership percentage of approximately 21.5% in The Duckhorn Portfolio and $50 million USD.As part of the agreement, The Duckhorn Portfolio has named two Brown-Forman executives to its Board of Directors, Marshall Farrer, Chief Strategic Growth Officer, and Tim Nall, Chief Global Supply Chain and Technology Officer.Under the terms of the agreement, the Sonoma-Cutrer brand trademarks, facilities, and six vineyards in two appellations will join The Duckhorn Portfolio’s luxury wine brands.About Brown-FormanFor more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage
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- Brown-Forman Announces Emerging International Leadership Change [Yahoo! Finance]Yahoo! Finance
- Brown-Forman Announces Emerging International Leadership ChangeBusiness Wire
- The Duckhorn Portfolio Closes Acquisition of Sonoma-Cutrer Vineyards [Yahoo! Finance]Yahoo! Finance
- Brown-Forman Corp: Multiple Growth Catalysts [Seeking Alpha]Seeking Alpha
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Sec Filings
- 5/8/24 - Form 8-K
- 5/2/24 - Form 3
- 5/2/24 - Form 4
- BF.A's page on the SEC website