Brown-Forman to acquire Casa Herradura for $876 million

Brown-Forman to acquire Casa Herradura for $876 million

Brown-Forman Corp. has said that they would gain popular brands including Herradura and El Jimador to its line-up of wines and spirits as they are acquiring Mexico’s Casa Herradura.

The deal is worth around $876 million.

Brown-Forman spokesman Phil Lynch said in a statement on this deal: “These are very strong brands in Mexico and very strong in the United States among Mexican-Americans. There’s great growth opportunity to grow this brand among other Hispanics in the United States as well as the general American consumer population.”

Brown-Forman added that this deal would reduce earnings by 8 cents to 12 cents per share in fiscal 2007.