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Responding To Constellation Offer, Brown-Forman Says It’s Not For Sale

May 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 Marsteller

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