Brown-Forman will report its fourth-quarter and full-year results tomorrow (9 June). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of April.
- In mid-February, the US-based company released two Jack Daniel’s-based RTD variants in its home market. Jack Daniel’s & Cola and Jack Daniel’s & Ginger were followed later in the month by a Jack Daniel’s & Diet Cola variant.
- Then, in early March, Brown-Forman confirmed that it will sell its California-based Fetzer Vineyards to Viña Concha y Toro for US$238m. The company said at the time that it felt it was best served by “redirecting our resources to those opportunities around the world which offer stronger growth and higher returns on invested capital”. The transaction was completed in mid-April.
- In a conference call after its Q3 results in March, Brown-Forman said it has high hopes for Jack Daniels beyond its US heartland. Growth for the brand internationally is “significantly outpacing the US”, the firm said, with CFO Don Berg noting that Brown-Forman was “very enthused by the response we’re getting to Jack Daniel’s ” abroad.
- Towards the end of March, Brown-Forman announced a switch of managing director for its Western Europe operations. Lawson Whiting moved up to assume the position from his current role as director of finance for the region. He replaced Geo. Garvin Brown IV, who moved to become executive VP for Brown-Forman.
- Just as Brown-Forman’s fiscal full-year ended, the company announced on 3 May its first managing director for China. John Accardo, who most recently served as director of regional strategy for Asia Pacific, assumed the role on 1 May.
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