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Brown-Forman completes Finlandia Vodka sale to Coca-Cola HBC
FoodBev Media

FoodBev Media

3 November 2023

Brown-Forman completes Finlandia Vodka sale to Coca-Cola HBC

Brown-Forman has announced that it has completed the sale of the Finlandia vodka brand to Coca-Cola Hellenic Bottling Company (Coca-Cola HBC) on 1 November 2023. As reported by FoodBev in June this year, Brown-Forman disclosed that it had reached an agreement to sell the brand to Coca-Cola HBC for $220 million, subject to adjustments related to inventory and other working capital items. Brown-Forman’s portfolio of alcoholic beverage brands includes Jack Daniel’s, Woodford Reserve and Fords Gin. Its brands are supported by approximately 5,600 employees globally and sold in more than 170 countries worldwide. The Finlandia vodka brand was founded in 1970 and has a global distribution of 2.7 million nine-litre cases annually. Its sale was described by Brown-Forman as another step in the company’s long-term strategic ambition to premiumise its portfolio through brand innovation, acquisition and divestiture. Coca-Cola HBC had been distributing Finlandia for more than 17 years prior to the acquisition, which it said will further enrich and strengthen its portfolio across more markets.

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