Brown-Forman Australia delivered positive results for the Corporation, growing net sales by 12 per cent (unaudited), representing Brown-Forman Corporation's third largest market in terms of sales after the US and UK.
Paul Varga, the company’s Chief Executive Officer said, “Fiscal 2016 was another successful year at Brown-Forman. We delivered solid underlying growth in sales and operating income, led by the Jack Daniel’s family of brands.
"We also made important changes to our portfolio of brands that we believe position us well for the long-term. Against a favourable backdrop of global interest in American whiskey, we invested capital to expand our capacity and we returned approximately $1.4 billion to our shareholders during the year. We believe that our strong free cash flow and capital efficiency positions us to deliver top-tier returns for our shareholders."
The Jack Daniel's family of brands dropped by 1 per cent in net sales to 6 per cent, while the Corporation's super and ultra-premium whiskey brands on the other hand grew underlying net sales by double digits, helped by Woodford Reserve, which increased net sales by 29 per cent.
Brown-Forman Completes Acquisition of The BenRiach Distillery Company Limited
Brown-Forman has completed its acquisition of The BenRiach Distillery Company Limited, which includes The GlenDronach, BenRiach and Glenglassaugh single malt Scotch whisky brands. The Corporation announced its intention to purchase the distillery in May for approx. AUD$550 million, re-entering itself into the increasing single malt Scotch whisky category.
“With this acquisition, Brown-Forman re-enters one of the spirits industry’s most exciting and consistent growth segments, single malt Scotch whisky,” Varga added. “The GlenDronach, BenRiach and Glenglassaugh single malt brands are among the finest single malts in the world and we look forward to continue building them around the globe.”
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