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BROWN-FORMAN CONCLUDES TRANSACTION CREATING STRATEGIC ALLIANCE FOR FETZER VINEYARDS

 BROWN-FORMAN CONCLUDES TRANSACTION CREATING STRATEGIC ALLIANCE
 FOR FETZER VINEYARDS
 LOUISVILLE, Ky., Aug. 31 /PRNewswire/ -- Brown-Forman Corporation (NYSE: BF.B BF.A) and the Fetzer family jointly announced today that they have


concluded the transaction creating a strategic alliance for Fetzer Vineyards, one of the six largest premium California wineries. Under the terms of the transaction, Brown-Forman acquired substantially all the outstanding stock of the winery for $4.6 million in cash and $47.5 million in notes. Brown-Forman also assumed Fetzer Vineyards' $29.5 million debt to third parties.
 In addition, Fetzer members will provide viticultural services and supply grapes to the winery on an exclusive basis from the extensive vineyards they have retained.
 Brown-Forman Corporation is a diversified producer and marketer of fine quality consumer products, including Jack Daniel's Tennessee Whiskey, Canadian Mist, Southern Comfort, Korbel California Champagnes, Lenox China and Crystal, Dansk International Designs, Gorham Silver, Crystal and China, and Hartmann Luggage.
 -0- 8/31/92
 /CONTACT: David R. Jackson, Brown-Forman Corporation, 502-774-7309/
 (BF) CO: Brown-Forman Corporation; Fetzer Vineyards ST: Kentucky IN: FOD SU: TNM


CM -- CH006 -- 5130 08/31/92 17:09 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Aug 31, 1992
Words:186
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