Brown-Forman

In: Business and Management

Submitted By wandansu
Words 1035
Pages 5
Brown-Forman
Wandan Su
Oct.28th 2012
Managerial Accounting

* Company Overview * Company History In the year of 1870, a great company was founded in Louisville, Kentucky. It was formed by George Garvin Brown, a young pharmaceuticals salesman. He saw the demand for a consistently high quality whisky that conform medicinal standards. Brown and his half-brother used an innovative approach to sold whisky with sealed glass bottles to guarantee their quality while whisky was sold in the barrel in common at that time. The brand called Old Forester Kentucky Straight Bourbon Whisky, was the first bottle bourbon in America, which remains one of Brown-Forman's best selling brands during the current days. The name of the company changed so many times as the business grew and the original partnership dissolved. Later partnership become between George Garvin Brown and his friend also his accountant, so the company was formed was call Brown-Forman. Old Forester sold very well --but In 1902 Forman sold his interest in the Brown-Forman Distillery because he believed that Brown-Forman's success would diminish as soon as the novelty of packaging began to fade. The Brown family bought all of Forman's interest in the company. In1917,George Garvin Brown died and his oldest son,Owsley, took over the Brown-Forman. It was a difficult time because of the depression and prohibitions during the two World Wars. In 1924, the company moved to the 18th & Howard Street, where the company is still headquartered today. Prohibition ends in 1933 and in the same year the Brown-Forman issued their first public stock. In 1945,W.L.Lyons Brown, lead the company to the largest distiller, expand the markets since the end of World War II. In 1960 the company had net sales of exceed $100 million for the first time. In order to expend the beverage business in the world, a new global…...

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