Brown-Forman Announces Distribution Change in Slovakia in 2023 (September 27, 2022)

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Louisville, Kentucky – Brown-Forman Corporation (NYSE: BFA, BFB), one of America’s largest spirits and wine companies, today announced that it plans to distribute its own brands in Slovakia beginning September 1, 2023.

“We believe that establishing our own direct sales organization in Slovakia will help grow our portfolio, and in particular the Jack Daniel’s Tennessee Whiskey and Finlandia Vodka brand families,” said Marshall Farrer, President of Europe Division. by Brown-Forman. Company.

In Slovakia, the Whiskey category – in particular the super-premium category – and the Standard+ Vodka category continue to grow and attract new consumers.

Brown-Forman has enjoyed a long partnership with its distributor KOFT sro and will continue the collaboration until the launch of its own distribution organization. Brown-Forman sells its own brands directly in several European markets, including the UK, Germany, Poland, France, Spain, Czechia, Belgium and Luxembourg.

For more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly creating premium beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord and Fords Gin. Brown‑Forman brands are supported by approximately 5,200 employees worldwide and sold in more than 170 countries worldwide. For more information about the company, please visit brown-forman.com. follow us on TwitterInstagram and LinkedIn.

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Important information about forward-looking statements:

This press release contains statements, estimates and projections that are “forward-looking statements” as defined by United States federal securities laws, including statements regarding the company’s planned establishment of a sales organization directly in Slovakia and its impact on the company’s activities.

These risks and uncertainties include, but are not limited to:

  • Our substantial reliance on the continued growth of the Jack Daniel’s family of brands

  • Substantial competition from new entrants, consolidations by competitors and retailers and other competitive activities, such as pricing actions (including price reductions, promotions, discounts, coupons or free products), marketing, l category expansion, product introductions or entry or expansion into our geographic markets or distribution networks

  • Changes to the route to the consumer that affect the timing of our sales, temporarily disrupt the marketing or sale of our products, or result in increased fixed costs

  • Disruption of our distribution network or fluctuation of stocks of our products by distributors, wholesalers or retailers

  • Changes in consumer preferences, consumption or buying habits – particularly away from large producers in favor of small distilleries or local producers, or away from brown spirits, our premium products or spirits in general, and our ability to anticipate or react to them; further legalization of marijuana; changes in consumer purchasing practices; bar, restaurant, travel or other on-site declines; changes in demographic or health and wellness trends; or adverse consumer reaction to new products, line extensions, packaging changes, product reformulations or other product innovations

  • Production facility, aging warehouse or supply chain disruption

  • Inaccuracy in forecasting supply and demand

  • Higher costs, lower quality or unavailability of energy, water, raw materials, product ingredients or labor

  • Impact of health epidemics and pandemics, including the COVID-19 pandemic, and the risk of resulting negative economic impacts and related government actions

  • Adverse global or regional economic conditions, particularly related to the COVID-19 pandemic, and related economic downturns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, fiscal deficits, heavy government debt, measures austerity, higher interest rates, higher taxes, political instability, higher inflation, deflation, lower returns on pension assets or lower discount rates for pension obligations

  • Product recalls or other product liability claims, product tampering, contamination or quality issues

  • Negative publicity related to our business, products, brands, marketing, officers, employees, board of directors, family shareholders, operations, business performance or prospects

  • Inability to attract or retain talented leaders or employees

  • Risks associated with acquisitions, divestitures, business partnerships or investments – such as the integration of acquisitions, the difficulties or costs of termination, or the depreciation of recorded value

  • The risks associated with being a US-based company with global operations, including business, political and financial risks; local policies and working conditions; protectionist trade policies or economic or trade sanctions, including additional retaliatory tariffs on US whiskeys and the effectiveness of our actions to mitigate the adverse impact on our margins, sales and distributors; compliance with local business practices and other regulations; terrorism; and health pandemics

  • Failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations

  • Fluctuations in foreign currency exchange rates, especially a stronger US dollar

  • Changes in laws, regulations or government policies – particularly those affecting the production, importation, marketing, labelling, pricing, distribution, sale or consumption of our alcoholic beverages

  • Changes in tax rates (including excise taxes, corporate taxes, sales or value added taxes, property taxes, payroll taxes, import and export duties and tariffs) or changes in related reservations, changes in tax rules or accounting standards, and the unpredictability and suddenness with which they may occur

  • Declining social acceptability of alcoholic beverages in major markets

  • Important additional labeling or warning requirements or limitations on the availability of our alcoholic beverages

  • Infringement and insufficient protection of our intellectual property rights

  • Major disputes and legal proceedings, or government investigations

  • Computer breach or failure or corruption of our main computer systems or those of our direct and indirect suppliers, customers or business partners, or failure to comply with data protection laws

  • Our family-owned “controlled company” status under NYSE rules and our dual-class share structure

For more information about these and other risks, please see our public filings, including the “Risk Factors” section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with of the Securities and Exchange Commission.

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