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Brown-Forman to Sell Southern Comfort and Tuaca
Brown-Forman, the American spirits maker, said its Southern Comfort and Tuaca brands would be sold to the Louisiana-based Sazerac. The sale, expected to close by March 1, will result in a one-time operating income gain of about $475 million for Brown-Forman in fiscal 2016, the company said. The chief of Brown-Forman, Paul Varga, said the sale reflected the company’s evolving portfolio strategy and its focus on top brands like Jack Daniel’s. Brown-Forman acquired Southern Comfort in 1979, but the brand has struggled in recent years. Sazerac’s holdings in Kentucky include the Buffalo Trace, Barton 1792 and Glenmore distilleries.
Because of an editing error, an earlier version of this briefing about Brown-Forman erroneously included the text of an article about Hyatt Hotels. That article can be read here.
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