Distiller in share buy-back

Distiller in share buy-back

Jack Daniel whiskey distiller Brown-Forman is to repurchase US$250m of shares.

Up to $250m of outstanding class A and class B common shares are to be repurchased by 1 December, the firm said yesterday (8 June).

"Recognising the company’s future growth opportunities, we think now is a great time for us to use our strong financial position to invest in Brown-Forman,” said Paul Varga, CEO of the group, which also owns Southern Comfort whiskey and Finlandia vodka.

Brown-Forman will report its full-year results today at 10:00 ET.