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Brown-Forman Takes Loss For Unusable Agave |
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August 28, 2008
Source: CondeNast Portfolio
Brown-Forman Takes Loss For Unusable Agave
While the acquisition of Casa Herradura brought additional premium tequila brand to Brown-Forman in Herradura and El Jimador. It also brought long-term contracts with agave farmers that compensate them for the amount of plants harvested. With twenty-five percent of the harvest deemed unusable, the company wrote down more than $20 million. The company believes the reduced agave inventory will have no impact on their tequila quality.
More Information: http://www.portfolio.com/views/blogs/daily-brief/
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