Date: Thu, 18 Dec 1997 05:12:08 GMT Server: Apache/1.1.3 Content-type: text/html Content-length: 15060 Last-modified: Fri, 17 Oct 1997 13:36:22 GMT Brown-Forman Corporation History

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Highlights of Brown-Forman's History

1870

George Garvin Brown, a young pharmaceuticals salesman in Louisville, Kentucky, saw the need for a consistently high quality whisky that met medicinal standards. With $5,500 in saved and borrowed money, Brown and his half-brother started J.T.S. Brown and Bro. They sold whisky in sealed glass bottles to assure its quality, an innovative approach at a time when whisky commonly was sold by the barrel. Old Forester Kentucky Straight Bourbon Whisky was the flagship brand.

Several name changes ensued as the business grew and the original partnership dissolved. The name that stuck, Brown-Forman, refers to a later partnership between George Garvin Brown and his accountant and friend, George Forman.


1890

The firm's name was changed to Brown-Forman and Company to reflect that partnership. Business, despite the growing prohibitionist movement in America, was booming.


1901

George Forman died and his stock in the company was purchased by Brown. Brown-Forman was incorporated shortly afterward.


1904

Owsley Brown, George Garvin Brown's son, made what turned out to be a pivotal decision to come into the business, beginning a tradition of family apprenticeship that continues to this day.


1917

George Garvin Brown died at the age of 70 and his son Owsley took the helm at Brown-Forman. It was a difficult time to be in charge, given the wartime restrictions on distilling and the growing prohibitionist sentiment.


1920

The Prohibition Amendment was adopted. Many distillers had to shut down but Owsley Brown applied for and received a license to bottle whisky for medicinal purposes. Old Forester, the brand that helped start the company, also helped see it through Prohibition.


1923

Brown-Forman made its first acquisition, Early Times. Because the government required whisky to be stored in specific warehouses, from which it could not be withdrawn without a permit, Owsley Brown ensured Brown-Forman's supply by buying the entire stock of Early Times and moving it to the government-designated warehouse in Louisville where the company stored the rest of its whisky.


1933

With Prohibition headed for repeal, Owsley Brown and several other prominent figures in the industry organized what has since become the Distilled Spirits Council of the United States (DISCUS), the trade organization that has been instrumental in educating the public on the responsible use of beverage alcohol.

Prohibition died in December and Brown-Forman, which had acquired several brands in addition to Early Times and added new buildings at the Howard Street location, was back in business.

The year also saw Brown-Forman's first public stock issue, which provided a capital base that allowed the company to re-enter the American market with strength after the lean years of the Depression and Prohibition.


1941

Brown-Forman correctly anticipated the outbreak of World War II and, within days of Pearl Harbor, began producing industrial alcohol for the war effort at a converted Old Forester plant. Such war contracts enabled the company to hold many of its plant crews together, which meant that after the war the company was able to quickly re-convert and start producing beverage alcohol.


1953

Early Times became the Number 1 bourbon in the country and Brown-Forman set out to acquire other high quality products to add to its line.


1956

This was a year of major acquisitions for Brown-Forman, with the purchase of the Jack Daniel Distillery in Lynchburg, Tennessee, and the Jos. Garneau Co., Inc., a century-old New York import house. Jack Daniel's Tennessee Whiskey, of course, has since become one of the most popular whiskies in the world.


1960

The company had net sales of more than $100 million for the first time.


1965

Distribution rights to Korbel California Champagnes and Brandies were acquired.


1967

Two acquisitions added Old Bushmills Irish Whiskey, and Pepe Lopez Tequila to Brown-Forman's product line.


1968

The import firm of Fontana-Hollywood became part of Brown-Forman, bringing with it Bolla Italian wines.


1971

The company acquired Canadian Mist, located in Collingwood, Ontario, and the import rights to Noilly Prat, the world-famous French vermouths.


1979

The company acquired The Grand Old Drink of the South, Southern Comfort.


1983

Lenox, Incorporated became part of the Brown-Forman family of companies, bringing with it Lenox china, crystal and giftware, and Hartmann luggage.


1987

Brown-Forman Beverage Company acquired the trademark and U.S. distribution rights for Fontana Candida Italian Wines, the world's leading supplier of frascati wines.


1988

The Beverage Company launched Gentleman Jack Rare Tennessee Whiskey, the first new whiskey out of Jack Daniel Distillery in more than 100 years.


1989

Lenox, Incorporated celebrated its centennial, marking the occasion with the production of four china patterns based on earlier Lenox creations, as well as many other china and crystal items available only in the centennial year.

Crouch & Fitzgerald, the oldest luggage store in the U.S., was acquired by Brown-Forman. Located at Madison Avenue and 48th Street in New York City, the store was established in 1839.


1990

Brolio Wines, Italy's premier producer of Chianti and the oldest winery in the world under continuous family control, chose Brown-Forman as its exclusive U.S. sales and marketing agent.

Lenox, Incorporated acquired the Baltimore-based Kirk Stieff Company, the oldest manufacturer of silver and pewter products in the United States.


1991

Brown-Forman Beverage Company created a Wine Division to re-emphasize the company's commitment to building its premium wine business. That commitment was underscored with the announcement in December of an agreement to acquire Jekel Vineyards, a Monterey County, California, winery that produces super-premium, estate-bottled wines. Earlier in the year, the Wine Division became the exclusive sales and marketing agent for Fontanafredda Wines of Italy, wines literally fit for a king. They were first made for the last king of Italy and have had a reputation for excellence since they became commercially available in 1878.

Brown-Forman also acquired distribution rights to Glenmorangie Single Highland Malt Scotch, one of the world's leading super-premium scotches.

Key acquisitions in the consumer durables segment of Brown-Forman's business enhanced the already strong presence of Lenox and Hartmann in the marketplace. Dansk International Designs and its subsidiary, Gorham, joined Brown-Forman in a major acquisition, finalized in July.


1992

Brown-Forman undertook a hugely successful national roll-out of Jack Daniel's Country Cocktails. It also acquired its second winery, Fetzer Vineyards of Mendocino County, California. Fetzer is one of the six largest premium California wineries and is a leading U.S. table wine. The alliance with Fetzer made Brown-Forman the fifth-largest domestic wine marketer in the country. Fetzer was among the first wineries to experiment with and put into practice non-pesticide, organic growing methods.


1993

Owsley Brown II became the corporation's new CEO, succeeding his brother, W.L. Lyons Brown, Jr., who had been CEO for 18 years.

Carmen Vineyards Chilean Wines became part of the Beverage Company's portfolio in April. Chilean wines are a growing category in the United States.


1994

Brown-Forman increased its regular quarterly cash dividend by 4% in fiscal 1994, marking the 49th consecutive year in which the company paid regular dividends. Also, the company's board of directors approved a three-for-one common stock split which resulted in an annualized dividend of $.95 per share.

CEO Owsley Brown II announced three strategic initiatives for the future success of Brown-Forman: expanding into international markets, developing successful new products, and realizing the full potential of the Lenox group of companies.

Brown-Forman Beverages Worldwide (BFBW), a new global organization designed to expand beverage business throughout the world, was created. BFBW encompasses, expands upon and replaces Brown-Forman Beverage Company, which operated in the U.S., and Brown-Forman International Ltd, which handled the company's sales and marketing efforts in overseas markets. William M. Street was appointed president and chief executive officer of BFBW.


1995

Brown-Forman Corporation reached an agreement in principle to form a joint venture in India with Jagatjit Industries, Limited, a diversified producer and marketer of consumer products including spirits, snack foods, dairy products, and malt and malt extracts. Jagatjit Brown-Forman India Private, Ltd., headquartered in New Delhi, will supply the company's beverage products to the Indian market and pursue opportunities to export beverages and consumer durables from India.

Brown-Forman created a new drinks category with Tropical Freezes, the first blended freezer cocktails in the market. Availablein shelf-stable foil pouches, more than a million 9-liter cases of Tropical Freezes were sold during its first year of national distribution.


1996

Blue Grass Cooperage, one of the World's largest producers of whiskey barrels and a subsidiary of Brown-Forman, celebrated its 50th anniversary. Blue Grass Cooperage makes white oak whiskey barrels for aging such Brown-Forman brands as Jack Daniel's, Early Times, Old Forester, and Woodford Reserve, as well as for most other Kentucky bourbon producers. The Cooperage also produces oak wine barrels for wineries in California and Europe.

Brown-Forman entered the world of cyberspace with its own Internet Home Page. Found on the Internet at http://www.brown-forman.com/, the Brown-Forman Home Page features a wide variety of information about the company, its history and products, as well as the complete text, charts, and photographs of the company's annual report.

Brown-Forman became exclusive U.S. importer of Finlandia Vodkas. Made in Finland, Finlandia Vodka is one of the fastest-growing spirits brands in the world and provides Brown-Forman with an entry in the growing U.S. premium vodka category.

Michael V. Cheek, president of Brown-Forman Beverages Worldwide North American Group, was named Executive of the Year in the beverage alcohol industry. Cheek was so honored at the 1996 Market Watch Leaders Choice Awards, sponsored by Market Watch magazine and voted upon by beverage alcohol retailers.

Grand reopening ceremonies were held for the newly restored Labrot & Graham Distillery in Woodford County, Kentucky. Originally founded in 1812 by bourbon-making pioneer Elijah Pepper, Labrot & Graham features free public tours of a working distillery producing super-premium bourbons in old-fashioned copper pot stills, a Visitors Center that traces the history of bourbon in Kentucky, and a gift shop selling Kentucky Crafts. Known as the "Bourbon Homeplace," Labrot & Graham has already become a popular tourist attraction in Central Kentucky.

Brown-Forman introduced Woodford Reserve Bourbon, the first new product from Labrot & Graham. Hand-selected and set aside by our Master Distiller seven years ago, special barrels of Brown-Forman's finest bourbon complete their aging at Labrot & Graham. This fine Bourbon, called Woodford Reserve, is then bottled at Labrot & Graham and shipped to select markets, including Kentucky, Tennessee, Indiana, Georgia, England, France, and Germany. Woodford Reserve was named "Best New Bourbon" by Wine & Spirits and "Domestic Whiskey of the Year" by Malt Advocate.

John Ash, culinary director at Fetzer Vineyards in Hopland, California, wins the Julia Child Best Cookbook of the Year award for his From the Earth to the Table cookbook.


Copyright © 1997, Brown-Forman Corporation. Revision August 25, 1997