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Brown-Forman Corporation

Distilled Spirits and WinesFounded 1870
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Brown-Forman Acquisitions

5

Major Deals Covered

$1.9B

Disclosed Deal Value

What are Brown-Forman's biggest acquisitions?

Brown-Forman's largest disclosed acquisition here is Herradura for $776M in 2007. This page covers 5 major deals from 1956 to 2023, each with its price where disclosed and the reason behind it.

Major deals covered
5
Largest deal
Herradura ($776M)
First deal
1956
Most recent
2023
CompanyYearPricePurpose
Jack Daniel's (Lem Motlow Distillery)1956UndisclosedBrown-Forman bought the Jack Daniel Distillery in Lynchburg, Tennessee, from the Motlow family to add a distinctive charcoal-mellowed Tennessee whiskey to its bourbon portfolio. Federal court records cited in later reporting put the agreed price at $18 million, while contemporary reports described a $20 million deal.
Herradura2007$776.0MBrown-Forman completed the $776 million purchase of Casa Herradura in January 2007, gaining Herradura, el Jimador, New Mix and distilling operations in Amatitán, Jalisco, as premium tequila began to grow worldwide.
The BenRiach Distillery Company2016$405.0MBrown-Forman completed the purchase of The BenRiach Distillery Company in June 2016 for £281 million (about $405 million), adding The GlenDronach, Benriach and Glenglassaugh single malt Scotch distilleries.
Gin Mare2022UndisclosedBrown-Forman completed the purchase of Gin Mare and Gin Mare Capri from Vantguard and MG Destilerías in November 2022 for an undisclosed price, filling a gap in super-premium gin.
Diplomático Rum2023$725.0MBrown-Forman bought the Diplomático brand and related assets, including a production facility in Panama, from Destillers United Group, completing the deal on January 5, 2023 for about $725 million, to gain scale in super-premium rum.
What companies has Brown-Forman bought?
Major acquisitions by Brown-Forman documented here include Herradura (2007), Diplomático Rum (2023), The BenRiach Distillery Company (2016), Gin Mare (2022) and Jack Daniel's (Lem Motlow Distillery) (1956).
What is Brown-Forman's most recent acquisition?
The most recent Brown-Forman acquisition documented here is Diplomático Rum, in 2023, for $725M.

Diplomático Rum

2023

$725M

Why

Brown-Forman bought the Diplomático brand and related assets, including a production facility in Panama, from Destillers United Group, completing the deal on January 5, 2023 for about $725 million, to gain scale in super-premium rum.

Impact

Diplomático adds a fast-growing category that is less tied to American whiskey cycles and grew at a strong double-digit rate in fiscal 2026.

Outcome

Together with Gin Mare it drove an 18% organic rise in Rest of Portfolio net sales in fiscal 2026.

Source →

Gin Mare

2022

Why

Brown-Forman completed the purchase of Gin Mare and Gin Mare Capri from Vantguard and MG Destilerías in November 2022 for an undisclosed price, filling a gap in super-premium gin.

Impact

Gin Mare gave Brown-Forman a premium gin to sell against Hendrick's and Tanqueray No. Ten and grew at a strong double-digit rate in fiscal 2026.

Outcome

It is a small but growing part of the Rest of Portfolio category, though lower travel-retail volumes amid Middle East disruption hurt it in the first quarter of fiscal 2027.

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The BenRiach Distillery Company

2016

$405M

Why

Brown-Forman completed the purchase of The BenRiach Distillery Company in June 2016 for £281 million (about $405 million), adding The GlenDronach, Benriach and Glenglassaugh single malt Scotch distilleries.

Impact

The deal gave Brown-Forman a foothold in single malt Scotch, a premium category its American whiskey portfolio did not cover.

Outcome

The three malts remain part of Brown-Forman's Whiskey category and its premium portfolio.

Source →

Herradura

2007

$776M

Why

Brown-Forman completed the $776 million purchase of Casa Herradura in January 2007, gaining Herradura, el Jimador, New Mix and distilling operations in Amatitán, Jalisco, as premium tequila began to grow worldwide.

Impact

The deal built Brown-Forman's tequila and Mexican RTD business. New Mix is now its fastest-growing brand (+41% in fiscal 2026), but Herradura and el Jimador have weakened, with tequila net sales down 4% in fiscal 2026.

Outcome

Herradura's net sales fell 9% in fiscal 2026 and 17% in the first quarter of fiscal 2027, so the tequila brands need a turnaround even as New Mix carries the Mexican business.

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Jack Daniel's (Lem Motlow Distillery)

1956

Why

Brown-Forman bought the Jack Daniel Distillery in Lynchburg, Tennessee, from the Motlow family to add a distinctive charcoal-mellowed Tennessee whiskey to its bourbon portfolio. Federal court records cited in later reporting put the agreed price at $18 million, while contemporary reports described a $20 million deal.

Impact

Jack Daniel's grew from a regional Southern brand into the best-selling American whiskey and the core of a whiskey business that now generates roughly 70% of Brown-Forman's net sales.

Outcome

Jack Daniel's remains the cornerstone of Brown-Forman, which had a market capitalization of about $12.1 billion in September 2026. Its marketing template, built on Lynchburg, the Lincoln County Process and founder Jasper "Jack" Daniel, has been reused across the company's other brands.

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Brown-Forman Corporation's Growth & Acquisition Strategy

Management lists three priorities: expand the geographic footprint, build brands that resonate with consumers, and improve operational efficiency. In practice that means pushing Jack Daniel's into emerging markets (emerging-market net sales grew 14% in fiscal 2026, led by Türkiye, the UAE and Brazil), taking over distribution where it can (Italy moved to owned distribution in fiscal 2026) and leaning on innovation such as Jack Daniel's Tennessee Blackberry and New Mix, which launched in the U.S. It is also reshaping U.S. route-to-market: in April 2026 it picked four distributor organizations to represent its portfolio in 11 of 18 control-state markets, and on July 7, 2026 it took over supply, sales and distribution of its U.S. flavored malt beverages from Pabst. Earlier portfolio moves, buying Gin Mare (2022) and Diplomático (2023) while selling Finlandia and Sonoma-Cutrer, aimed to reduce dependence on American whiskey.

How Brown-Forman Corporation Makes Money

Brown-Forman makes money by distilling, aging, bottling and marketing branded spirits, then selling them to distributors, state control boards and, in markets where it owns distribution, directly to retailers and bars. Whiskey, led by the Jack Daniel's family, generates roughly 70% of net sales; tequila, ready-to-drink (RTD) cans, gin, rum and liqueurs make up most of the rest, alongside a small non-branded line that is mostly used-barrel sales. Profit depends on premium pricing: gross margin was 60.5% in fiscal 2026, and the company steers drinkers toward higher-priced expressions such as Gentleman Jack, Jack Daniel's Single Barrel, Woodford Reserve Double Oaked and Old Forester's Whiskey Row series. Because American whiskey must age for years, the model ties up large amounts of capital in barrel inventory long before a bottle is sold.

Brown-Forman Acquisitions FAQ

When did Brown-Forman acquire Jack Daniel's and what was the purchase price in 1956?

Brown-Forman bought the Jack Daniel Distillery in Lynchburg, Tennessee, from the Motlow family in 1956. Federal court records cited in later reporting put the agreed price at $18 million, while contemporary reports said $20 million. It became the most important deal in the company's history.

When did Brown-Forman acquire Mexican tequila leader Casa Herradura?

In January 2007, Brown-Forman acquired Casa Herradura (Grupo Industrial Herradura) for $776 million in cash, adding ultra-premium Herradura and 100% blue agave el Jimador tequilas, along with historic agave distilleries in Amatitán, Mexico.

When did Brown-Forman acquire Diplomático Rum?

Brown-Forman completed its purchase of the Diplomático brand and related assets, including a production facility in Panama, from Destillers United Group on January 5, 2023, for about $725 million.

When did Brown-Forman acquire Mediterranean craft gin Gin Mare?

In November 2022, Brown-Forman acquired Gin Mare and Gin Mare Capri from Vantguard and MG Destilerías, establishing a leading market position in the fast-growing super-premium Mediterranean craft gin category.

When did Brown-Forman acquire The Benriach Distillery Company in Scotland?

In June 2016, Brown-Forman acquired The BenRiach Distillery Company for £281 million ($405 million), adding three historic Single Malt Scotch Whisky distilleries to its portfolio: The GlenDronach, Benriach, and Glenglassaugh.

Which brands has Brown-Forman sold to Sazerac?

Brown-Forman sold Southern Comfort and Tuaca to Sazerac in 2016 and Early Times, Canadian Mist and Collingwood in 2020. In 2026 Sazerac tried to buy Brown-Forman itself; the board called the proposal not actionable on July 26, 2026.

When did Brown-Forman divest Southern Comfort and Tuaca to Sazerac?

In March 2016, Brown-Forman sold Southern Comfort and Tuaca liqueur brands to Sazerac Company for $544 million in cash, divesting lower-margin flavored liqueurs to reinvest capital in super-premium whiskey and tequila.

How does Brown-Forman evaluate potential strategic spirits acquisitions?

Brown-Forman targets high-margin, super-premium brands with authentic provenance, rich distilling heritage, and strong pricing power (such as Diplomático, Gin Mare, and GlenDronach) that can be scaled through its global distribution network.

What brands does Brown-Forman own?

Beyond Jack Daniel's, they have aggressively acquired other premium brands to diversify, famously buying Casa Herradura (tequila) for nearly $900 million and recently acquiring the ultra-premium Diplomático Rum.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.