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Brown-Forman Corporation
 
 
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The Brown-Forman Corp is one of the largest American
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
-owned companies in the spirits
Distilled beverage

A distilled beverage, liquor, or spirit is a drinkable liquid containing ethanol that is produced by means of distillation Fermentation grain, fruit, or vegetables....
 and wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
 business, and is a diversified producer and marketer of various consumer products. Headquartered in Louisville, Kentucky
Louisville, Kentucky

Louisville is Kentucky's largest city and county seat of Jefferson County, Kentucky. The city's estimated population as of 2006 is listed as 557,789, with a population of 1,233,733 in the Louisville-Jefferson County, KY-IN Metropolitan Statistical Area....
, Brown-Forman employs 3,350 people. Some well-known brands of the corporation include Jack Daniel's
Jack Daniel's

Jack Daniel's is a brand of Tennessee whiskey that is among the world's best-selling whiskeys and is known for its square bottles and black label....
, Canadian Mist, Southern Comfort
Southern Comfort

Southern Comfort is a fruit, spice, and whiskey flavored liqueur produced since 1874. It is made from a blend of whiskey, mango, Orange , grape, vanilla, sugar, and cinnamon flavors....
, Early Times
Early Times

Early Times is a brand of "Kentucky Whiskey" which was first distilled in 1860. The brand became popular during 1920s. During the prohibition in the US, this whiskey was an exempt from the law, having been designated as "medicinal whiskey"....
 Kentucky Whisky, Woodford Reserve Bourbon
Woodford Reserve

Woodford Reserve is a brand of premium small batch bourbon whiskey made in the Labrot & Graham's Old Oscar Pepper Distillery, near Versailles, Kentucky, Woodford County, Kentucky, Kentucky....
, Old Forester Bourbon whiskey
Bourbon whiskey

Bourbon is an United States whiskey, a type of distilled beverage, made primarily from maize and named for Bourbon County, Kentucky. It has been produced since the 18th century....
, Korbel champagne, wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
, Finlandia vodka
Finlandia Vodka

Finlandia is a Finland vodka produced from six-row barley by the Altia distillery in Ilmajoki. Of all Finnish high-alcohol drinks, it is the brand name that most foreigners associate with the country....
, and Bolla wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
.

The company bought Tequila Herradura, a well-known Mexican
Mexico

The United Mexican States , commonly known as Mexico , is a federalism constitutionalism republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of Mexico....
 company that produces tequila
Tequila

Tequila is an blue agave distilled beverage made primarily in the area surrounding Tequila, Jalisco, in the northwest of Guadalajara, Jalisco and in the highlands of the western Mexican state of Jalisco....
, in January 2007.






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The Brown-Forman Corp is one of the largest American
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
-owned companies in the spirits
Distilled beverage

A distilled beverage, liquor, or spirit is a drinkable liquid containing ethanol that is produced by means of distillation Fermentation grain, fruit, or vegetables....
 and wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
 business, and is a diversified producer and marketer of various consumer products. Headquartered in Louisville, Kentucky
Louisville, Kentucky

Louisville is Kentucky's largest city and county seat of Jefferson County, Kentucky. The city's estimated population as of 2006 is listed as 557,789, with a population of 1,233,733 in the Louisville-Jefferson County, KY-IN Metropolitan Statistical Area....
, Brown-Forman employs 3,350 people. Some well-known brands of the corporation include Jack Daniel's
Jack Daniel's

Jack Daniel's is a brand of Tennessee whiskey that is among the world's best-selling whiskeys and is known for its square bottles and black label....
, Canadian Mist, Southern Comfort
Southern Comfort

Southern Comfort is a fruit, spice, and whiskey flavored liqueur produced since 1874. It is made from a blend of whiskey, mango, Orange , grape, vanilla, sugar, and cinnamon flavors....
, Early Times
Early Times

Early Times is a brand of "Kentucky Whiskey" which was first distilled in 1860. The brand became popular during 1920s. During the prohibition in the US, this whiskey was an exempt from the law, having been designated as "medicinal whiskey"....
 Kentucky Whisky, Woodford Reserve Bourbon
Woodford Reserve

Woodford Reserve is a brand of premium small batch bourbon whiskey made in the Labrot & Graham's Old Oscar Pepper Distillery, near Versailles, Kentucky, Woodford County, Kentucky, Kentucky....
, Old Forester Bourbon whiskey
Bourbon whiskey

Bourbon is an United States whiskey, a type of distilled beverage, made primarily from maize and named for Bourbon County, Kentucky. It has been produced since the 18th century....
, Korbel champagne, wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
, Finlandia vodka
Finlandia Vodka

Finlandia is a Finland vodka produced from six-row barley by the Altia distillery in Ilmajoki. Of all Finnish high-alcohol drinks, it is the brand name that most foreigners associate with the country....
, and Bolla wine
Wine

Wine is an alcoholic beverage often made of fermentation grape juice. The natural chemical balance of grapes is such that they can ferment without the addition of sugars, acids, enzymes or other nutrients....
.

The company bought Tequila Herradura, a well-known Mexican
Mexico

The United Mexican States , commonly known as Mexico , is a federalism constitutionalism republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of Mexico....
 company that produces tequila
Tequila

Tequila is an blue agave distilled beverage made primarily in the area surrounding Tequila, Jalisco, in the northwest of Guadalajara, Jalisco and in the highlands of the western Mexican state of Jalisco....
, in January 2007.

The company was founded in 1870 by George Garvin Brown, a young pharmaceuticals salesman in Louisville, who had the then-novel idea of selling top-grade whiskey in sealed glass bottles. Since then, it has grown into a company that in fiscal 2006 had sales of $2.4 billion. The Brown family controls more than 70% of the voting shares
Voting shares

A voting share is a share of stock giving the stockholder the right to vote on matters of corporation policy and the composition of the members of the board of directors....
.

Stock information

Brown Forman has two classes of common stock
Common stock

Common stock is a form of corporation equity ownership represented in the Security . It is a stock whose dividends are based on market fluctuations....
. The Class A voting shares are traded under ticker symbol
Ticker symbol

A stock symbol or ticker symbol is a mnemonic used to uniquely identify publicly-traded stock of a corporation on a particular stock market....
: on the NYSE. Because of the control by the Brown family, the Class A shares are thinly traded.

The Class B non-voting shares are traded on the NYSE under the ticker symbol
Ticker symbol

A stock symbol or ticker symbol is a mnemonic used to uniquely identify publicly-traded stock of a corporation on a particular stock market....
: .

Recent events

Brown-Forman recently sold its Lenox division as part of a plan to refocus the company on its wine and spirits production. The income generated by the sale has been distributed to the shareholders in the form of a one time special dividend.

Also as a part of this minor restructure, Brown Forman sold its Hartmann Luggage division to Clarion Capitol Partners.

Brown-Forman recently agreed on an $800 million loan from Bank of America
Bank of America

Bank of America Corporation , based in Charlotte, North Carolina, is the largest financial services company in the world, largest bank by assets, second largest commercial bank by deposits, and third largest by market capitalization in the United States....
. This loan was taken at a relatively attractive rate. The money will probably be used in part to finance the recent Casa Herradura acquisition.

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