BROWN-FORMAN CLOSES TEQUILA DEAL

Brown-Forman announced yesterday that it has completed its acquisition of the Mexico-based Casa Herradura. The original purchase price was set at $876 million, but has since been lowered to $776 million.

"We are very excited about this acquisition which gives us two strong brands competing at the super-premium and premium levels in the world's largest tequila markets - the U.S. and Mexico," said chief Paul Varga.