Brown-Forman Corp., Louisville, Ky., 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 at Brown-Forman Corp., in a statement. “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.”