Brown-Forman in $250m share repurchase

25 March, 2011

Brown-Forman has announced that its board of directors has authorised the repurchase of up to $250 million of its outstanding Class A and Class B common shares until November 30, 2011, subject to market and other conditions.

Under this plan, the company can repurchase shares from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase programme may be modified, suspended, terminated or extended by the company at any time without prior notice.

Paul Varga, chief executive officer of Brown-Forman said: ďThe announcement of this share repurchase authorisation demonstrates our continued confidence in the long-term growth prospects of Brown-Forman.Ē

Brown-Formanís brands include Jack Danielís Tennessee Whiskey, Southern Comfort, Finlandia and Woodford Reserve. The brands are sold in approximately 135 countries worldwide.





Comment

Christian Davis

Drinking Danishly

So, Danish brewer is spending £15m on revitalising its flagship Carlsberg Export brand (see news story) and at the core of activity is emphasising the companyís Danish origins.

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