News in brief
Brown-Forman completes Southern Comfort and Tuaca sale
Brown-Forman has completed the sale of the Southern Comfort and Tuaca trademarks to Sazerac.
The sale, which was announced in January, sees the trademarks sold to the New Orleans privately held company for a final purchase price of $542.4m.
Brown-Forman CEO Paul Varga said the decision to sell the brands was a result of the company’s evolving portfolio strategy, and efforts to focus resources on its top strategic priorities.
Southern Comfort was acquired by Brown-Forman in 1979. Tuaca was acquired by Brown-Forman in two separate transactions, completed in 2002.
Sazerac’s portfolio includes bourbon, liqueurs, wine, vodka, tequila, rum and brandy.