Coca-Cola to Buy Finlandia Vodka for $220M
Brown-Forman Corporation has reached an agreement to sell its Finlandia vodka brand to Coca-Cola HBC AG for $220 million, subject to the customary closing process. The purchase is expected to close in the second half of the 2023 calendar year.
“Finlandia has played an important role in the global growth of Brown-Forman. Since the brand originally joined our portfolio in 2000, many talented individuals have worked hard to bring Finlandia vodka to the world, and I thank them for their dedication,” said Lawson Whiting, president and CEO, Brown-Forman Corporation. “We believe Coca-Cola HBC is well-suited to support Finlandia’s future growth and look forward to watching the continued evolution of the brand in their capable hands.”
“We are excited and privileged to become the new home for Finlandia vodka. This unique opportunity for us will support our mixability strategy with our core Non-Alcoholic Ready-To-Drink portfolio and sharpen our focus on the strategically important on-premise channel. We are already developing strong plans to take Finlandia to the next level by accelerating and leveraging the brand’s current momentum,” said Zoran Bogdanovic, CEO, Coca-Cola HBC AG. “Lastly, I would like to welcome the Finlandia team to the Coca-Cola HBC family and look forward to great successes.”
Brown-Forman has managed the shape and contents of its portfolio over the last decade and a half through developing, acquiring, and divesting various businesses and brands. The company acquired Finlandia from Altia Corp. (predecessor to the current production partner Anora Group Plc) in multiple phases, obtaining full ownership in 2004.
For more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Ready-to-Drinks, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord, Fords Gin, Gin Mare, and Diplomático Rum. Brown-Forman’s brands are supported by approximately 5,600 employees globally and sold in more than 170 countries worldwide.
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SweetWater Releases Summer Brew American Lager
SweetWater Brewing Company, the ninth largest craft brewer in the U.S. and a subsidiary of Tilray Brands, Inc., announced the summer release of SweetWater American Lager, a special edition of SweetWater’s flagship Lager, featuring American red, white and blue branding now available in over 10 states across the United States with national distribution coming soon.
Ty Gilmore, president, U.S. beer, Tilray Brands, said, “SweetWater’s American Lager is a salute to American craft beer and our best-selling flagship Lager. We hope the refreshing and crisp American Lager will be a staple at backyard barbecues, tailgates and get-togethers this summer.”
SweetWater’s American Lager (4.5 percent alcohol by volume) is a clean-bodied craft beer with a 100 percent premium Pilsner grain bill along with Crystal and Hallertau hops, expertly brewed for easy-drinking. The new American Lager is flowing at SweetWater’s flagship taprooms in Atlanta and Fort Collins, Colo., and is also available in 12-packs of 12oz cans at grocery and liquor stores, as well as bars and restaurants across the United States in Georgia, Florida, South Carolina, Colorado, North Carolina, Pennsylvania, Wisconsin, Tennessee, Maryland, California, Kentucky, Minnesota, Texas, Missouri, West Virginia and Mississippi.
This Memorial Day weekend, SweetWater will also be one of the participating breweries at this year’s Brew at the Zoo from 6 to 9:30 p.m., May 27, at 800 Cherokee Ave. in Atlanta. To find Sweetwater’s American Lager and other craft brews near you, checkout SweetWater’s beer finder online at www.SweetWaterBrew.com.
One of Atlanta’s original craft breweries, founded 26 years ago, SweetWater Brewing is now the 9th largest craft brewers in the United States. With two flagship breweries in Atlanta and Fort Collins, Colo., SweetWater’s award-winning craft beers and ready-to-drink cocktails are available coast to coast and in more states than ever before. Inspired by the outdoors, SweetWater is a passionate advocate for healthy waterways and conservation initiatives. Through its annual Save Our Water campaign, SweetWater continues to raise funds to support nonprofit organizations fighting for clean water and habitat conservation, including the Waterkeeper Alliance, Bonefish & Tarpon Trust and Trout Unlimited.
SweetWater Brewery is a subsidiary of Tilray Brands, Inc., a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life.
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Tecton Wishes Moms Happy Hydration
Today’s moms shoulder many responsibilities, whether they are stay-at-home moms, working moms, or somewhere in between. Nearly half of all moms are facing burnout from motherhood, and the majority of moms are primarily responsible for running their households and caring for their children.
Tecton recognizes the enormous sacrifices mothers make every day to raise their children. In celebration of the upcoming holiday of Mother’s Day, Tecton, the world’s first and only nature-identical ketone beverage that’s palatable and safe at any dose for any age, has announced a special offer for mothers and the people who love them. This special price is 42 percent lower than retail on every order of Tecton until the end of the month (May 31).
“It’s important for us to show the moms in our lives and around the world that we see the hard work they do day in and day out to benefit our local, regional and global communities,” says Udaiyan Jatar, co-founder and president of Tecton. “This celebratory offer is a small way of saying ‘thank you’ for everything.”
“We believe moms everywhere can benefit from the amazing power of ketones,” Jatar adds. “Unlike caffeinated beverages, ketones, which are considered to be the fourth macronutrient, supply ample energy without impacting blood sugar levels or preventing moms from getting the rejuvenating sleep they need at night.”
The exogenous ketone esters used in Tecton have many benefits that can help moms power through their day. According to Tecton’s nutrition advisor, Dr. Rick Bloomer, exogenous ketones may help improve cognitive function (i.e., brain fog) and assist with appetite suppression. In addition, because Tecton contains 0 sugar and 0 caffeine, it is safe to drink during a fast without breaking it, and it will not keep moms up at night unnecessarily.
The special offer is available exclusively at go.tectonlife.com/TectonMoms and will be valid until May 31.
Tecton contains a nature-identical ketone produced through a proprietary and natural enzymatic process. Tecton was founded by a former special forces combat medic and a beverage industry veteran with global experience. Tecton’s true mission is to leverage the power of business to improve the health and wellbeing of people, and has committed 1 percent of revenue to nonprofits that help disabled veterans put their lives back together. Learn more at tectonlife.com.
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