All articles tagged with #brown forman
The Louisville area experienced significant business shifts in 2025, including Brown-Forman's workforce cuts and cooperage sale, Ford's EV strategy adjustments and new vehicle launches, Yum! Brands relocating its headquarters, and Wawa expanding into the region, alongside various business openings, closures, and redevelopment projects.
Brown-Forman, the maker of Jack Daniel's, reported lagging whiskey sales and a narrower profit for its first quarter of fiscal 2024. Net sales for whiskey products decreased by 1%, with Woodford Reserve and Gentleman Jack leading the decline. Sales for Jack Daniel's Tennessee Whiskey remained flat due to lower distributor inventories. However, the company saw growth in its ready-to-drink and tequila categories, with strong net sales growth for its New Mix RTD beverages and el Jimador tequila brand. Brown-Forman maintained its full-year outlook and expressed confidence in its people, brands, and business.
Brown-Forman has sold its Finlandia Vodka brand to Coca-Cola HBC for $220m, as the Jack Daniel's owner exits the vodka category. Finlandia is a leading vodka brand in Central and Eastern Europe, but has struggled to surpass its sales high of 3m cases in 2018. The purchase strengthens Coca-Cola HBC's premium spirits credentials and boosts mixability opportunities within the non-alcoholic ready-to-drink category. The acquisition is expected to close in the second half of 2023, subject to regulatory approvals.