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Brown-Forman sells Southern Comfort and Tuaca trademarks to Sazerac for $542.4m

DBR Staff Writer Published 03 March 2016

US-based spirits and wine company Brown-Forman Corporation has completed the sale of Southern Comfort and Tuaca trademarks to Sazerac for $542.4m.

Southern Comfort

The decision is said to be part of the company's strategic growth plan.

With this acquisition, Sazerac plans to introduce a global integrated strategy for Southern Comfort in the next few months. The strategy includes reviewal of the existing portfolio and packaging.

Later, the group will review any required changes or could make new additions to the range.

Sazerac senior marketing director Kevin Richards was quoted by thespiritsbusiness.com as saying: "When the brand came up for sale, we knew it would be the perfect addition to our portfolio.

"Not only does the brand tie perfectly with our heritage, it's a wonderful complement to many of our other New Orleans rooted brands.

"We're looking forward to positioning iconic Southern Comfort for its next 140 years."

The Tuaca brand, which is served as an ice cold shot, will also be reviewed as part of global strategy to determine whether any changes needed.

Brown-Forman Corporation's alcohol brands include Jack Daniel's Tennessee Whiskey, Jack Daniel's & Cola, Jack Daniel's Tennessee Honey, Gentleman Jack, Jack Daniel's Single Barrel, Finlandia, Korbel, el Jimador, Woodford Reserve, Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times, and Chambord.

In its fiscal 2016 outlook, the company announced that Southern Comfort and Tuaca have contributed $0.17 in EPS from May 1, 2015 to January 31, 2016, and $0.24 during Fiscal 2015.

Family-owned company Sazerac has operations in New Orleans, Louisiana; Frankfort, Bardstown, Louisville and Owensboro, Kentucky; Fredericksburg, Virginia; Carson, California; Baltimore, Maryland; Lewiston, Maine; Manchester, New Hampshire; and Montreal Canada.

Image: Jack Daniel's owner sells Southern Comfort and Tuaca trademarks. Photo: Courtesy of Hamish2k at English Wikipedia.