The Company Behind Jack Daniel’s Just Sold This Vodka Brand to Coca-Cola HBC for $220 Million
Brown-Forman sold Finlandia Vodka for $220 million to Coca-Cola HBC. (Photo: Kristoffer Tripplaar, Sipa via AP Images)
On Wednesday, Brown-Forman announced the sale of Finlandia Vodka to Coca-Cola HBC for $220 million.
The brand described the sale of Finlandia Vodka as a “step in Brown-Forman’s long-term strategic ambition to premiumize its portfolio through brand innovation, acquisition and divestiture.”
Brown-Forman is known for brands like Jack Daniel’s, The GlenDronach, Old Forester, and Woodford Reserve.
The spirits company has made steps to focus on premiumization and expanding its selection of offerings, evidenced especially by the Jack Daniel’s brand.
In September, Jack Daniel’s released Jack Daniel’s Bonded Rye Whiskey, the first rye whiskey in the history of the distillery with the Bottled-In-Bond designation.
The brand also released its twice-barreled rye in August, which hosted a suggested retail price of $76. The whiskey is described by the brand as posessing a rich palate, with flavors of oak, rye bread and molasses that fade into a graham cracker-infused finish.
Jack Daniel’s Twice-Barreled Rye hosts a 7-year age statement and was ranked eighth on our list of the Best Whiskeys We Tasted in October 2023.
According to ResearchAndMarkets, an increasing demand for premium and super-premium whiskeys has fueled the growth of the whiskey market in 2023.
The report cites a “growing trend of socializing and mid-week/weekend professionals,” influencing the market. These professionals gravitate to premium brands to “showcase class and sophistication among peers.”
The global whiskey market is expected to be worth $91.3 billion by 2028.
Follow The Daily Pour:
About The Daily Pour
Founded by Dan Abrams, The Daily Pour is the ultimate drinking guide for the modern consumer, covering spirits, non-alcoholic and hemp beverages. With its unique combination of cross-category coverage and signature rating system that aggregates reviews from trusted critics across the internet, The Daily Pour sets the standard as the leading authority in helping consumers discover, compare and enjoy the best of today's evolving drinks landscape.
