{"id":760915,"date":"2023-05-31T07:43:07","date_gmt":"2023-05-31T11:43:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brown-forman-announces-casa-herradura-expansion\/"},"modified":"2023-05-31T07:43:07","modified_gmt":"2023-05-31T11:43:07","slug":"brown-forman-announces-casa-herradura-expansion","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brown-forman-announces-casa-herradura-expansion\/","title":{"rendered":"Brown-Forman Announces Casa Herradura Expansion"},"content":{"rendered":"

<\/p>\n

Brown-Forman Announces Casa Herradura Expansion<\/b><\/p>\n

Distillery Investment Expands Tequila Production in Mexico<\/i><\/b><\/p>\n

LOUISVILLE, Ky.–(BUSINESS WIRE<\/a>)–
\nBrown-Forman Corporation (NYSE:BFA,BFB) today announces plans to expand its Casa Herradura tequila distillery in Jalisco, Mexico. The approximate $200 million USD investment will allow the company to meet the increasing global demand for its premium tequilas. Construction is expected to begin in July, 2023.<\/p>\n

\n\u201cThe world\u2019s growing taste for premium tequila is driving double-digit net sales growth* <\/sup>of our Herradura and el Jimador brands. We believe strong consumer interest in tequila will continue and we\u2019re expanding our production capacity to meet this demand,\u201d said Lawson Whiting, President and Chief Executive Officer, Brown-Forman Corporation. \u201cThis strategic investment will improve our production efficiencies and increase our competitiveness.\u201d<\/p>\n

\nCasa Herradura is one of Mexico’s most historic and renowned tequila producers. They have been hand harvesting, producing, and estate bottling fine tequilas from the small town of Amatit\u00e1n, Jalisco, since 1870. Brown-Forman acquired Casa Herradura in 2007.<\/p>\n

\n\u201cThis multi-phase project includes adding to our distillery operations, bottling, maturation, and processing areas. This expansion is particularly exciting as it will also advance our existing waste-to-energy efforts with a new water recycling and treatment plant,\u201d said Elisa Gutierrez, Vice President and General Manager, Casa Herradura.<\/p>\n

\nThe first phase will expand the water recycling and treatment plant, followed by the expansion of capacity for distilling, bottling, maturation, and processing. It builds upon Casa Herradura\u2019s commitment to environmental sustainability.<\/p>\n

\nCasa Herradura was a pioneer in establishing a water recycling and treatment plant that met government standards and is one of Brown-Forman’s zero waste to landfill sites. Less than one percent of the solid waste generated goes to landfill, creating a more sustainable process and product. Over the past decade, Brown-Forman has made significant investments in state-of-the-art technology and implementation of processes for environmental care.<\/p>\n

\nTequila is the fastest growing spirits category globally by value with the majority of the growth within the category driven by the super premium+ price segment. The U.S. market accounts for 32 million 9L cases, and $12 billion in retail value. (IWSR 2022)<\/p>\n

* Reported net sales growth for the nine months ended January 31, 2023<\/i><\/p>\n

About Brown-Forman:<\/b><\/p>\n

\nFor more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Ready-to-Drinks, 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\u2019 Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord, Fords Gin, Gin Mare, and Diplom\u00e1tico Rum. Brown-Forman\u2019s brands are supported by approximately 5,200 employees globally and sold in more than 170 countries worldwide. For more information about the company, please visit brown-forman.com<\/a>. Follow us on LinkedIn<\/a>, Instagram<\/a> and Twitter<\/a>.<\/p>\n

Important Information on Forward-Looking Statements:<\/b><\/p>\n

\nThis press release contains statements, estimates, and projections that are \u201cforward-looking statements\u201d as defined under U.S. federal securities laws. Words such as \u201caim,\u201d \u201canticipate,\u201d \u201caspire,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cenvision,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cexpectation,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cproject,\u201d \u201cpursue,\u201d \u201csee,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections. These risks and uncertainties include, but are not limited to:<\/p>\n