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Brown Forman announces Finlandia Vodka sale

Brown-Forman has announced today that it has agreed to sell its Finlandia vodka brand to Coca-Cola HBV AG for $220 million, subject to the customary closing process. The sale is expected to close in the second half of 2023.

Lawson Whiting, president and CEO at Brown-Forman Corporation, commented: “Finlandia has played an important role in the global growth of Brown-Forman. Since the brand originally joined our portfolio in 2000, many talented individuals have worked hard to bring Finlandia vodka to the world, and I thank them for their dedication. We believe Coca-Cola HBC is well-suited to support Finlandia’s future growth and look forward to watching the continued evolution of the brand in their capable hands.”

Brown-Forman has managed the contents of its portfolio for more than a decade. The company acquired Finlandia from Alita Corp. (a predecessor to the current production partner Anora Group Plc) in multiple phases, achieving full ownership status in 2004.

Coca-Cola HBC AG CEO Zoran Bogdanovic added: “We are excited and privileged to become the new home for Finlandia vodka. This unique opportunity for us will support our mixability strategy with our core Non-Alcoholic Ready-To-Drink portfolio and sharpen our focus on the strategically important on-premise channel. We are already developing strong plans to take Finlandia to the next level by accelerating and leveraging the brand’s current momentum. Lastly, I would like to welcome the Finlandia team to the Coca-Cola HBC family and look forward to great successes.”

19 June 2023 - Bradley Weir