Source: Forbes 

LONDON (AFX) - Brown-Forman Corporation said it has signed an agreement with Gruppo Italiano Vini (GIV) which includes selling its Bolla Italian wine production facility to GIV for an undisclosed sum while retaining the trademark.

The deal concludes negotiations announced in July over a possible partnership between the companies.

The liquor company said under the agreement, GIV will produce Bolla Italian wines for Brown-Foreman and will become the distributor of Bolla wines in Italy, while Brown-Foreman retains worldwide trademark ownership and will continue to sell Bolla wines in the US and other markets around the world.

‘This new arrangement will allow Brown-Forman to improve efficiency and gain flexibility in the sourcing of high quality wine for Bolla,’ said Paul Varga, Brown-Forman’s chief executive.

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