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Brown-Forman
Brown-Forman Corporation is an American family-controlled publicly traded company, one of the largest in the spirits and wine business. Based in Louisville, Kentucky, it manufactures several well-known brands throughout the world, including Jack Daniel's, Old Forester, Woodford Reserve, GlenDronach, BenRiach, Glenglassaugh, Herradura, Korbel, and Chambord. Brown-Forman also owned Southern Comfort and Tuaca before selling them off in 2016.
As of fiscal 2024, Brown-Forman had gross sales of $5.32 billion and net sales of $4.178 billion. The roughly 40 members of the Brown family, cousins who are descendants of founder George Garvin Brown, control more than 70% of the voting shares and in 2016 had a net worth of $12.3 billion.
According to Cengage, the company was founded in 1870 by George Garvin Brown, a young pharmaceuticals salesman in Louisville, and his partner John Forman.
Brown had the then-novel idea of selling top-grade whiskey in sealed glass bottles.
According to Forbes, the company was founded by Brown alone and he brought in his accountant as a partner in 1890 – changing the name to Brown-Forman and Company at that time in order to reflect the partnership. According to some sources, Brown's partner's given name was George (rather than John) and he died in 1901, and Brown purchased his stock.
Forman was not sure the idea of selling whiskey in glass bottles would be a good business strategy in the long term, and he sold his interest to Brown and Brown's family in 1902.[dubious – discuss]
Yet another slightly different story is told in a source published in 1905, saying Brown began in J. T. S. Brown & Bro., which reorganized as Brown, Chambers & Co. in 1873, then Chambers & Brown a year later, then Brown, Thompson & Co. six years later, and then, upon the withdrawal of Thompson, became Brown, Forman & Co. in 1889, and then after Forman's death in 1901, became the Brown-Forman Company.
In 1904, Owsley Brown, George Garvin Brown's son, came into the business. When George Garvin Brown died at the age of 70 in 1917, his son, Owsley, took over as president of Brown-Forman.
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Brown-Forman
Brown-Forman Corporation is an American family-controlled publicly traded company, one of the largest in the spirits and wine business. Based in Louisville, Kentucky, it manufactures several well-known brands throughout the world, including Jack Daniel's, Old Forester, Woodford Reserve, GlenDronach, BenRiach, Glenglassaugh, Herradura, Korbel, and Chambord. Brown-Forman also owned Southern Comfort and Tuaca before selling them off in 2016.
As of fiscal 2024, Brown-Forman had gross sales of $5.32 billion and net sales of $4.178 billion. The roughly 40 members of the Brown family, cousins who are descendants of founder George Garvin Brown, control more than 70% of the voting shares and in 2016 had a net worth of $12.3 billion.
According to Cengage, the company was founded in 1870 by George Garvin Brown, a young pharmaceuticals salesman in Louisville, and his partner John Forman.
Brown had the then-novel idea of selling top-grade whiskey in sealed glass bottles.
According to Forbes, the company was founded by Brown alone and he brought in his accountant as a partner in 1890 – changing the name to Brown-Forman and Company at that time in order to reflect the partnership. According to some sources, Brown's partner's given name was George (rather than John) and he died in 1901, and Brown purchased his stock.
Forman was not sure the idea of selling whiskey in glass bottles would be a good business strategy in the long term, and he sold his interest to Brown and Brown's family in 1902.[dubious – discuss]
Yet another slightly different story is told in a source published in 1905, saying Brown began in J. T. S. Brown & Bro., which reorganized as Brown, Chambers & Co. in 1873, then Chambers & Brown a year later, then Brown, Thompson & Co. six years later, and then, upon the withdrawal of Thompson, became Brown, Forman & Co. in 1889, and then after Forman's death in 1901, became the Brown-Forman Company.
In 1904, Owsley Brown, George Garvin Brown's son, came into the business. When George Garvin Brown died at the age of 70 in 1917, his son, Owsley, took over as president of Brown-Forman.