Report: Brown-Forman’s Diplomatico, Gin Mare Purchases Worth A Combined $1.25 Billion

Brown-Forman’s recent acquisition of Venezuela-based upscale rum brand Diplomatico, which closed last week, was worth $725 million, the Louisville Business Journal reported, citing a December SEC filing. The same filing revealed that Brown-Forman’s September purchase of Gin Mare from Spain’s Vantguard and MG Destilerías was worth nearly $500 million.

Brown-Forman saw sales climb 11% to $2.1 billion in its fiscal first half ended in October, with CEO Lawson Whiting noting, “Consumer demand for our brands remains strong, and we have set the organization on a path for continued growth with our sustained brand investments, recently announced acquisitions, product innovation, and strategic relationships.”—Daniel Marsteller

Tagged : Brown-Forman, Diplomatico, Gin Mare

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