Brown-Forman Offloads Finlandia Vodka For $220 Million

Brown-Forman has divested Finlandia Vodka to Switzerland-based Coca-Cola HBC AG for $220 million. The company had acquired Finlandia, whose sales are mainly based in Europe, from Altia Corp. in multiple phases, obtaining full ownership in 2004.

According to Impact Databank, Finlandia had global volume of 2.6 million cases and retail value of $555 million last year. In the U.S., the brand failed to gain significant traction amid heavy competition in the vodka category and had slipped below 110,000 cases in recent years. Brown-Forman recently wrote down the value of Finlandia after suspending operations in Russia following that country’s invasion of Ukraine, as Russia had been a key market for the brand.

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