UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): September 20, 2006 (September 18, 2006)
Brown-Forman Corporation
(Exact name of registrant as specified in its charter)
Delaware 002-26821 61-0143150
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
850 Dixie Highway, Louisville, Kentucky 40210
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (502) 585-1100
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2.):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 7.01. Regulation FD Disclosure.
On September 18, 2006, Brown-Forman Corporation issued a press release
announcing that it has successfully concluded negotiations with Gruppo Italiano
Vini for the production of Bolla Italian wines A copy of the press release is
attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
99.1 Press Release, dated September 18, 2006
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Brown-Forman Corporation
(Registrant)
Date: September 20, 2006 By: /s/ Nelea A. Absher
Nelea A. Absher
Vice President and Assistant
Corporate Secretary
Exhibit Index
99.1 Press Release, dated September 18, 2006, issued by Brown-Forman
Corporation.
Exhibit 99.1
FOR IMMEDIATE RELEASE
BROWN-FORMAN AND GIV SIGN LONG-TERM PRODUCTION AGREEMENT
Louisville, KY, September 18, 2006 - Brown-Forman Corporation announced today
that it has successfully concluded negotiations with Gruppo Italiano Vini (GIV)
for the production of Bolla Italian wines. The company had previously announced
(on July 19, 2006) that it was in negotiations with GIV.
Under the agreement signed today by both companies, Brown-Forman has sold its
main Bolla wine production facility in Pedemonte, Italy to GIV and GIV will in
turn produce Bolla Italian Wines for Brown-Forman. The agreement also names GIV
as Bolla's distributor in the Italian domestic market. Brown-Forman, which has
marketed Bolla Wines since 1968, will maintain worldwide ownership of the Bolla
trademark and continue to sell Bolla Wines in the U.S. and other markets around
the globe.
"This new arrangement will allow Brown-Forman to improve efficiency and gain
flexibility in the sourcing of high quality wine for Bolla," said Paul C. Varga,
Brown-Forman's chief executive officer.
GIV and Brown-Forman have had a long and productive relationship, as the Italian
company has provided the wine for Brown-Forman's Fontana Candida Italian Wines
over the last two decades.
Brown-Forman Corporation is a diversified producer and marketer of fine quality
consumer products, including Jack Daniel's, Southern Comfort, Finlandia Vodka,
Canadian Mist, Fetzer and Bolla Wines, Korbel California Champagnes, and
Hartmann Luggage.
Important Note on Forward-Looking Statements:
This report contains statements, estimates, or projections that constitute
"forward-looking statements" as defined under placecountry-regionU.S. federal
securities laws. Generally, the words "expect," "believe," "intend," "estimate,"
"will," "anticipate," and "project," and similar expressions identify a
forward-looking statement, which speaks only as of the date the statement is
made. 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. We believe that the expectations and assumptions with
respect to our forward-looking statements are reasonable. But by their nature,
forward-looking statements involve known and unknown risks, uncertainties and
other factors that in some cases are out of our control. These factors could
cause our actual results to differ materially from Brown-Forman's historical
experience or our present expectations or projections. Here is a non-exclusive
list of such risks and uncertainties:
- changes in general economic conditions, particularly in the United States
where we earn a significant portion of our profits;
- lower consumer confidence or purchasing in the wake of catastrophic events;
- tax increases, whether at the federal or state level or in major
international markets and/or tariff barriers or other restrictions affecting
beverage alcohol;
- limitations and restrictions on distribution of products and alcohol
marketing, including advertising and promotion, as a result of stricter
governmental policies adopted either in the United States or globally;
- adverse developments in the class action lawsuits filed against Brown-Forman
and other spirits, beer and wine manufacturers alleging that our industry
conspired to promote the consumption of alcohol by those under the legal
drinking age;
- a strengthening U.S. dollar against foreign currencies, especially the
British Pound, Euro, and Australian Dollar;
- reduced bar, restaurant, hotel and travel business, including travel retail,
in the wake of terrorist attacks;
- lower consumer confidence or purchasing associated with rising energy prices;
- longer-term, a change in consumer preferences, social trends or cultural
trends that results in the reduced consumption of our premium spirits brands;
- changes in distribution arrangements in major markets that limit our ability
to market or sell our products;
- increases in the price of energy or raw materials, including grapes, grain,
wood, glass, and plastic;
- excess wine inventories or a world-wide oversupply of grapes;
- termination of our rights to distribute and market agency brands included in
our portfolio;
- adverse developments as a result of state investigations of beverage alcohol
industry trade practices of suppliers, distributors and retailers.