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LOUISVILLE, Ky.–(BUSINESS WIRE)–Brown-Forman Corporation (NYSE:BFA, BFB) today announced a commitment of $22.5 million to support the efforts of the Brown-Forman Foundation and Dendrifund. The commitment will be funded from a portion of the proceeds from the company’s recent sale of Finlandia vodka.
“This planned contribution supports the Brown-Forman Foundation’s vision of transformative community impact and Dendrifund’s collaborations to renew wood, water, and grain ecosystems,” said Lawson Whiting, President and CEO, Brown‑Forman. “The funding will strengthen these two organizations, enabling them to further their important and impactful work alongside their many partners.”
The Brown-Forman Foundation will receive a $20 million donation. The Foundation partners with organizations focused on three key areas: promoting responsible and sustainable living, ensuring essential living standards, and enriching arts and cultural experiences in Brown-Forman’s hometown of Louisville, Kentucky.
Additionally, the Dendrifund, a nonprofit sustainability seed fund jointly created by Brown-Forman and the Brown family, will receive a $2.5 million donation. Dendrifund serves as a catalyst for collaborative efforts aimed at advancing sustainability within the whiskey industry. This contribution will empower Dendrifund to progress its mission, focusing on crucial natural resources essential for whiskey distillation and aging: grains, water, and wood.
Brown-Forman’s commitment to the Brown-Forman Foundation continues the company’s legacy of philanthropy and community engagement. Likewise, the ongoing support of Dendrifund underscores the importance the company places on sustainability and innovation within the spirits industry.
Brown-Forman Corporation
For more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Ready-to-Drinks, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Chambord, Sonoma-Cutrer, Fords Gin, Gin Mare, and Diplomático Rum. Brown-Forman’s brands are supported by approximately 5,600 employees globally and sold in more than 170 countries worldwide. For more information about the company, please visit brown-forman.com. Follow us on LinkedIn, Instagram, and X, formerly Twitter.
Brown-Forman Foundation
Brown-Forman established the Brown-Forman Foundation in 2018 to further the company’s strategic charitable mission and ongoing philanthropic endeavors. Based in Louisville, Kentucky, the Brown-Forman Foundation amplifies the company’s generous culture to deliver transformative community impact, through enhancing arts and cultural living, ensuring essential living standards, and empowering responsible and sustainable living.
Dendrifund
Established in 2012 with an inaugural donation from Brown-Forman, Dendrifund has partnered with Brown-Forman, the Brown family, and community members to strengthen connections across wood, water, and grain value chains for greater sustainability. Dendrifund is committed to cultivating common ground for common solutions to address ecosystems issues related to three natural resources most important for the distillation and aging of whiskey: wood(lands), water(sheds), and grain(fields). For more information about Dendrifund, see www.dendrifund.org.
Important Information on Forward-Looking Statements:
This press release contains statements, estimates, and projections that are “forward-looking statements” as defined under U.S. federal securities laws. Words such as “aim,” “anticipate,” “aspire,” “believe,” “can,” “continue,” “could,” “envision,” “estimate,” “expect,” “expectation,” “intend,” “may,” “might,” “outlook,” “plan,” “potential,” “project,” “pursue,” “see,” “seek,” “should,” “will,” “would,” and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections. These risks and uncertainties include, but are not limited to:
For further information on these and other risks, please refer to our public filings, including the “Risk Factors” section of our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Contacts
Elizabeth Conway
Director
Corporate Communications
elizabeth_conway@b-f.com
Sue Perram
Vice President
Investor Relations
sue_perram@b-f.com
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