Brown-Forman selling Italian wine brands

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.”