US: Brown-Forman offloads Italian wines
By just-drinks.com editorial team | 2 December 2008
Brown-Forman has signed a deal to sell its Italian wine brands to Gruppo Italiano Vini, as part of a strategy to offload peripheral sections of its portfolio.
Gruppo Italiano Vini (GIV) will pick up the Bolla and Fontana Candida wine brands for an undisclosed fee, the US-based owner of Southern Comfort and Jack Daniel's announced today (2 December).
GIV already produces the wines for Brown-Forman.
Brown-Forman CEO Paul Varga said that the decision reflects the company's "evolving portfolio strategy and a continuation of its efforts to focus the time and resources of the company on their best opportunities for growth and shareholder returns".
The transaction is expected to close in December and GIV will assume responsibility for Bolla in all markets outside of the US on 1 January.
Brown-Forman will effectvely continue as the wines' agent in the US until 30 April at the latest.
Sectors: Wine
Companies: Brown-Forman, Southern Comfort, Jack Daniel’s
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US: Brown-Forman offloads Italian wines
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Pedro Brazofuerte said at 11:15 pm, December 2, 2008
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