Brown-Forman Completes Deal On Louisville Site For Old Forester DistilleryMay 29, 2015
Brown-Forman has closed on a deal to acquire two adjoining Louisville properties where it plans to build a distillery for Old Forester. The new facility will be located in two historic buildings on Louisville’s “Whiskey Row” and will cost about $45 million—roughly 50% more than the company initially estimated when the plan was unveiled last September. The distillery is slated to open in the fall of 2016.
Brown-Forman has big plans for Old Forester. The company recently said it intends to spend $20 million on a marketing push for the Bourbon brand, and is aiming to boost annual sales past the half-million-case mark within the next five years. Last year, Old Forester was up 16% to 110,000 cases in the U.S. market, which accounts for the vast majority of its business.
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