Brown-Forman selling Italian wine brandsBusiness First of Louisville

Brown-Forman Corp. will sell its Italian wine brands, Bolla and Fontana Candida to business partner Gruppo Italiano Vini.

Financial terms of the deal were not disclosed.

Louisville-based Brown-Forman (NYSE: BFB) has marketed Bolla since 1968. It bought a minority share in the brand in 1972 and purchased the business and trademark in 2000.

Brown-Forman has owned the Fontana Candida trademark since 1987.

Gruppo Italiano Vini has produced Fontana Candida for Brown-Forman since 1987. It began making Bolla for Brown-Forman in 2006.

In a news release, Brown-Forman CEO Paul Varga said Brown-Forman is selling the Italian wine brands as “a continuation of its efforts to focus the time and resources of the company on their best opportunities for growth and shareholder returns.”

The transaction is expected to close this month and Gruppo Italiano Vini will assume responsibility for Bolla in all markets outside the United States beginning Jan. 1. In the United States, both brands will be transferred no later than April 30. Brown-Forman will serve as an agent for the brands in the U.S. until then.

Brown-Forman produces and markets various wine and spirits brands, including Jack Daniel’s, Gentleman Jack, Woodford Reserve, Southern Comfort, Canadian Mist, Finlandia, Fetzer, Korbel, Sonoma-Cutrer, Chambord, el Jimador, Tequila Herradua and Tuaca.