Louisville-based Brown-Forman is selling the Southern Comfort and Tuaca brands to the owner of Buffalo Trace for $544 million.
The sale, announced Thursday, stems from Brown-Forman’s attempts to “focus resources on its highest strategic priorities.” The buyer, Louisiana-based Sazerac Company, is expected to take over the brands in March, Brown-Forman said in a news release.
The sale is subject to regulatory approval.
Brown-Forman, which produces Old Forester, Jack Daniel’s and several other liquor brands, has owned Southern Comfort since 1979 and Tuaca since 2002.
“Both brands played important roles in the Brown-Forman success story, and we will have fond memories of the enjoyment they brought to consumers, our partners, and to Brown-Forman,” chief executive Paul Varga since in a news release.
(Image via Mike Mozart/Creative Commons)