Coca-Cola HBC acquires Finlandia Vodka from Brown-Forman for $220m.
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.