Brown-Forman Corporation has announced the completed sale of the Finlandia vodka brand to Coca-Cola HBC AG on 1 November. Back in June, the company had disclosed it had reached an agreement to sell the brand for $220 million USD, subject to adjustments related to inventory and other working capital items.
It marks another step in Brown-Forman’s long-term strategic ambition to premiumize its portfolio through brand innovation, acquisition and divestiture.
Brown-Forman’s brands are supported by approximately 5,600 global employees and their portfolio sold in more than 170 countries worldwide.
More information on the company can be found at their website.
2 November 2023 - Bradley Weir