News

US: Brown-Forman silent on acquisition plans

Most popular

Provenance and quality not enough for spirits - II

Advice for brewers in the time of COVID-19

Over the influence? The future of social media

Mangrove MD warns of coronavirus impact on spirits

Coronavirus special - US Distilled Spirits Council

MORE

Brown-Forman has declined to confirm that it is looking to up its presence in the vodka and whiskey categories.

//i4.aroq.com/1/brown-foreman.jpg

Late yesterday (1 October), an analyst said the Jack Daniel's maker has a potential US$3bn to spend on acquisitions, with Scotch whisky, Irish whiskey and vodka high on its list of targets. But, a Brown-Forman spokesperson has told just-drinks that he could not say anything about the company's M&A strategy.

The spokesperson added: “We are always alert to possible acquisitions that we believe would do well in our hands.”

Analyst Nomura said it had "recently spent some time" with Brown-Forman, noting that the company "continues to outperform" the international spirits market.

Nomura said Brown-Forman will fund any deal with a 2.5x net debt/ebitda leverage that should free up $3bn, adding that smaller specific brand or country deals would be expected.

Last year, Brown-Forman spent an undisclosed sum buying up the Maximus vodka brand from Altia Corporation.


Related Content

Brown-Forman will

Brown-Forman will "weather storm" as whiskey tariffs on track to cost US$125m...

How did Brown-Forman perform in its fiscal-2019 Q1? - results data

How did Brown-Forman perform in its fiscal-2019 Q1? - results data...

Brown-Forman eyes bigger bite of flavoured whiskies with Tennessee Apple launch

Brown-Forman eyes bigger bite of flavoured whiskies with Tennessee Apple launch ...

Brown-Forman steps into gin with purchase of Fords Gin owner The 86 Co

Brown-Forman steps into gin with purchase of Fords Gin owner The 86 Co...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?