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Brown-Forman to Sale Fetzer
Renowned US drinks company Brown-Forman may well sale its Fetzer wine brand, vineyards and winery as the company ponders on a wholesale review of its business.
According to decanter.com, the Kentucky-based company announced the review after widespread press speculation that a sale of its wine interests was imminent.
However, the company said that it would retain its other California wine interests that include the super-premium Sonoma-Cutrer brand and its agency relationship with Korbel sparkling wines.
Brown-Forman said it was ‘exploring strategic alternatives’ for the Hopland-based Fetzer business, which could include a possible sale of all of its facilities, vineyards and ancillary brands.
“We are still amidst the review process,” said Brown-Forman CEO Paul Varga. “But given the recent media stories, we felt it was important to communicate with our employees and external stakeholders to set the record straight.”
The review comes after the US organization sold its ‘peripheral’ Italian wine brands Bolla and Fontana Candida to Gruppo Italiano Vini (GIV) in December 2008. GIV had already produced the wines for Brown-Forman for some time.