Borwn-Forman to spend $100M to boost Jack Daniel's production

|By:, SA News Editor

Brown-Forman (BF.B, BF.A) plans to spend ~$100M to expand its Jack Daniel distillery in Tennessee in the next two years amid growing global demand for bourbon and whiskey.

The new facility will increase the production of the flagship Jack Daniel's Old No. 7 brand by 15%-20% from more than 11M cases per year currently.

Jack Daniel's sales have soared in the past decade, as the 140-year-old brand has spread to more than 160 countries; it has enjoyed volume growth for 21 straight years, and its global net sales increased 9% in the last year.