Go Home SoCo, You’re Drunk: Liquor Brand Sold For $543 Mil
Sweet alcoholic nectar Southern Comfort has been sold by parent alcohol company Brown-Forman to another alcohol company, Sazerac for $US543.5 million, roughly $778.26 million in Aussie dollars.
The deal also encapsulates the sale of the Brown-Forman Tuaca trademark brand.
The decision by Brown-Forman to sell off the liquor brands to a rival alcohol company was due to the changing portfolio of Brown-Forman, said its chief executive Paul Varga in a statement.
“We’re proud of the work undertaken over the years by our employees and partners on behalf of Southern Comfort and Tuaca,” said Varga.
“Both brands played important roles in the Brown-Forman success story, and we will have fond memories of the enjoyment they brought to consumers, our partners, and to Brown-Forman.”
Brown-Forman has marketed Southern Comfort since acquiring the brand in 1979. The company acquired Tuaca in 2002.
“We are very excited about the opportunity to acquire such iconic brands. Brown-Forman has done an excellent job of building both brands over the years and we are looking forward to many more years of successful brand building,” said Mark Brown, president and CEO of the Sazerac Company.
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