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Brown-Forman completes sale of Canadian Mist to Sazerac
US drinks firm Brown-Forman has completed the sale of its Early Times, Canadian Mist and Collingwood whiskies to Sazerac for an undisclosed sum.
Canadian Mist is one of the biggest-selling Canadian whisky brands in the world
Jack Daniel’s owner Brown-Forman announced that the deal was completed on Friday 31 July. The move will also see Buffalo Trace owner Sazerac acquire the Canadian Mist distillery in Collingwood, Canada.
Brown-Forman first announced its sale of the brands in June as part of the firm’s “continued evolution” of its strategy of focusing on premium brands. The transaction was due to be completed this summer.
The deal with Sazerac will see Brown-Forman exit the Canadian whisky category as it seeks to focus on brands such as Woodford Reserve Bourbon, which surpassed one million cases last year.
Canadian Mist, the third biggest-selling Canadian whisky brand in the world, joined Brown-Forman’s portfolio in 1971. The Canadian Mist distillery was also the firm’s first production site outside of the US.
Kentucky whiskey Early Times was purchased by Brown-Forman in 1923 and was the group’s first acquired brand. The brand will celebrate its 160th anniversary this year.