For the second time in four months, Louisville spirits producer Brown-Forman has found itself at the center of a multimillion-dollar sale.
But this time, the company that's known for owning the Old Forester, Woodford Reserve and Jack Daniel's brands is purchasing a Scotland-based business for more than $414 million in a deal that will add three, single malt scotch whiskies to its portfolio.
On Wednesday, Brown-Forman issued a press release reporting that it has reached an agreement to purchase The BenRiach Distillery Company Limited for about £285 million - or nearly $415 million. The purchase will include trademarks for three brands - GlenDronach, BenRiach and Glenglassaugh - along with three malt distilleries, a bottling plant and the company's headquarters in Edinburgh, Scotland.
The sale is expected to close by June 1, after which The BenRiach Distillery Company's 165 employees are expected to operate as a subsidiary of Brown-Forman, according to the release.