Responding To Constellation Offer, Brown-Forman Says It’s Not For SaleMay 25, 2017
Following Tuesday’s news that Constellation has lodged an offer to acquire Brown-Forman, the Kentucky-based whiskey giant—controlled by fifth-generation majority shareholders the Brown family—insists that it has no interest in giving up its independence.
In a statement, Brown-Forman chairman Geo. Garvin Brown IV and CEO Paul Varga said, “As a matter of corporate policy, Brown-Forman does not comment on market rumors or speculation. However, it is important to reiterate that Brown-Forman is not for sale. For nearly 150 years, the Company and the Brown family have been committed to preserving Brown-Forman as a thriving, family-controlled, independent company. That commitment is unchanged, and our goal is to continue creating value for all shareholders for generations to come.” —Dan MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.