The Brown‑Forman Corporation has reached an agreement to sell its Finlandia vodka brand to Coca-Cola Hellenic Bottling Company (HBC AG) for $US220 million ($AUD323 million).
Pending customary closing processes, Lawson Whiting, President and Chief Executive Officer of the Brown‑Forman Corporation, said he expects the sale to be completed in the second half of 2023.
“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.
“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,” said Whiting.
Brown-Forman acquired Finlandia from Altia Corp. (predecessor to the current production partner Anora Group Plc) in multiple phases, obtaining full ownership in 2004.
Zoran Bogdanovic, Chief Executive Officer, Coca-Cola HBC AG, said: “I would like to welcome the Finlandia team to the Coca-Cola HBC family and look forward to great successes.
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