The Brown–Forman Corporation is an American company, one of the largest in the
spirits and
wine business. Based in
Louisville, Kentucky, it manufactures several well known brands throughout the world, including
Jack Daniel's,
Old Forester
Old Forester is a brand of Kentucky straight bourbon whiskey produced by the Brown–Forman Corporation. It has been on the market continuously for longer than any other bourbon (approximately 150 years as of 2020), and was the first bourbon so ...
,
Woodford Reserve,
GlenDronach,
BenRiach
The BenRiach distillery is a single malt Scotch whisky distillery in the Speyside area of Scotland. It is currently owned by Brown-Forman Corporation.
History
The BenRiach Distillery was established by John Duff in 1898, in North Speyside, so ...
,
Glenglassaugh,
Finlandia,
Herradura,
Korbel
Korbel may refer to:
Companies
*Korbel Champagne Cellars
Places
* Korbel, Humboldt County, California
* Korbel, Sonoma County, California
People
*Daniel Korbel, Canadian bridge player.
*Jan O. Korbel (born 1975), German biologist
*Josef Korbel ( ...
, and
Chambord. Brown–Forman formerly owned
Southern Comfort and
Tuaca before selling them off in 2016.
As of fiscal 2016 the company had sales of $3.08 billion.
The roughly 40 members of the Brown family, cousins that are descendants of founder George Garvin Brown, control more than 70% of the
voting shares and in 2016 had a net worth of $12.3 billion.
History
The company was founded in 1870 by George Garvin Brown, a young pharmaceuticals salesman in Louisville, who had the then-novel idea of selling top-grade whiskey in sealed glass bottles.
In 1890, the organisation's name was changed to Brown–Forman and Company in order to reflect the partnership. Despite the prohibitionist movement in America, the company prospered.
George Forman died in 1901, and Brown purchased his stock. Shorty after this, Brown–Forman was incorporated.
In 1904, Owsley Brown, George Garvin Brown's son, came into the business. When George Garvin Brown died at the age of 70 in 1917, his son, Owsley, took over as president of Brown–Forman.
With the onset of
Prohibition in the United States
In the United States from 1920 to 1933, a Constitution of the United States, nationwide constitutional law prohibition, prohibited the production, importation, transportation, and sale of alcoholic beverages. The alcohol industry was curtai ...
, Brown–Forman was granted one of six national licenses to produce medicinal whiskey.
In 2005, the company sold its
Lenox
Lenox may refer to:
Places in the United States
* Lenox, Alabama
* Lenox, Georgia
* Lenox, Iowa
** Lenox College, former college in Hopkinton, Iowa
* Lenox, Kentucky
* Lenox, Massachusetts, a New England town
** Lenox (CDP), Massachusetts, the m ...
division (one of the oldest and most famous manufacturers of fine china in the United States), which had been acquired in 1983, to
Department 56 for $160 million. The income generated by the sale was distributed to the shareholders in the form of a one time special dividend.
In 2006, the company acquired the Chambord liqueur brand (a super-premium black raspberry liqueur produced in France) for $255 million.
In 2007, the company acquired
Tequila Herradura, a Mexican company that produces the Casa Herradura tequila brand (a super-premium tequila produced in Mexico) for $776 million, while it also sold its Hartman Luggage division (one of the leaders in the travel goods industry and originally a subdivision of Lenox), to Clarion Capitol Partners. One year later, it sold the Bolla and Fontana Candida Italian wine brands to Gruppo Italiano Vini (GIV). The terms of neither sale were disclosed.
In 2011, the company sold
Fetzer Vineyards
Concha y Toro is the largest producer and exporter of wines from Latin America and one of the 10 largest wine companies in the world, and associated brands to Chilean wine producer Viña Concha y Toro S.A. for $238 million.
In 2016, the Southern Comfort and Tuaca brands were sold to
Sazerac Company for $543 Million.
In 2016, Brown–Forman also reached an agreement to purchase The BenRiach Distillery Company Limited for approximately £285 million. The purchase brought
GlenDronach,
BenRiach
The BenRiach distillery is a single malt Scotch whisky distillery in the Speyside area of Scotland. It is currently owned by Brown-Forman Corporation.
History
The BenRiach Distillery was established by John Duff in 1898, in North Speyside, so ...
, and
Glenglassaugh to Brown–Forman's portfolio.
In 2020, the company sold the Early Times and Canadian Mist brands to
Sazerac Company.
The company is a sponsor of the Brown–Forman Retailer of the Year awards given by the American Beverage Licensees.
Stocks
Brown–Forman has two classes of
common stock, both of which are traded publicly on the
New York Stock Exchange. The
Class A shares carry voting privileges and are thinly traded due to control by the Brown family while the
Class B shares are
non-voting stock.
Brands
American whiskey
*
Old Forester
Old Forester is a brand of Kentucky straight bourbon whiskey produced by the Brown–Forman Corporation. It has been on the market continuously for longer than any other bourbon (approximately 150 years as of 2020), and was the first bourbon so ...
Kentucky straight bourbon whiskey (the first bottled bourbon brand sold exclusively in sealed bottles and the oldest bourbon continuously on the market – first bottled in 1870)
*
Woodford Reserve Kentucky straight bourbon whiskey
*
Jack Daniel's Tennessee whiskey
Canadian whisky
* Collingwood, blended Canadian whisky
Scotch whisky
*
BenRiach
The BenRiach distillery is a single malt Scotch whisky distillery in the Speyside area of Scotland. It is currently owned by Brown-Forman Corporation.
History
The BenRiach Distillery was established by John Duff in 1898, in North Speyside, so ...
,
single malt Scotch
Single malt Scotch refers to single malt whisky made in Scotland. To qualify for this category, a whisky must have been distilled at a single distillery using a pot still distillation process and made from a mash of malted barley. Therefore, ...
whisky
*
GlenDronach, single malt Scotch whisky
*
Glenglassaugh, single malt Scotch whisky
Wine
*
Korbel
Korbel may refer to:
Companies
*Korbel Champagne Cellars
Places
* Korbel, Humboldt County, California
* Korbel, Sonoma County, California
People
*Daniel Korbel, Canadian bridge player.
*Jan O. Korbel (born 1975), German biologist
*Josef Korbel ( ...
,
sparkling wine (distributed)
* Sonoma-Cutrer Wines
Vodka
*
Finlandia
* Maximus vodka (Discontinued)
Gin
*Fords Gin
Tequila
* Don Eduardo
* El Jimador
*
Herradura
* Pepe Lopez
Liqueur
*
Chambord raspberry liqueur
Ready-to-drink coolers
* Little Black Dress
Environmental impact
In 2009, ''
Newsweek'' magazine ranked Brown–Forman in their "Green Rankings" which examines 500 of the largest corporations on their environmental track record. Brown–Forman was ranked 63rd out of 500 overall, and was ranked third in the
food and beverage industry sector.
Controversies
Bribery accusations in China
In 2011, Brown–Forman was accused of illegally subsidizing its distributors in China, and subsequently delaying payment to them as agreed under contract.
The Shanghai Administration for Industry and Commerce fined Brown–Forman 2 million
renminbi
The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...
(US$320,000) for illegal subsidization.
See also
*
List of major employers in Louisville, Kentucky
*
List of historic whisky distilleries
This article is a list of historic whisky distilleries and distillery companies. It includes some that are still operating and some that are not, and includes those claiming to be the oldest or to have other historically important characteristics. ...
References
External links
*
{{DEFAULTSORT:Brown-Forman
Manufacturing companies based in Louisville, Kentucky
Companies listed on the New York Stock Exchange
Food and drink companies established in 1870
Wine companies
Distilleries in Kentucky
Drink companies of the United States
1870 establishments in Kentucky
American companies established in 1870
Food and drink companies based in Kentucky