Brown-Forman Corporation (NYSE:BF.B) entered into purchase agreement to acquire Diplomático Rum brand and related assets from Destillers United Group S.L. for approximately $780 million on October 6, 2022. The consideration comprises of a cash payment of $725 million and additional $50 million post closing. Post the completion of the transaction, Brown-Forman will add the Diplomático Rum family of brands to its portfolio and acquire a production facility located in Panama. As part of the transaction, Brown-Forman will welcome more than 100 new employees to their company. Destillers United Group will continue to produce Diplomático Rum in their original distillery. Diplomático Rum is sold in more than 100 countries. Top markets include France, Germany, and the United States. The transaction is subject to customary closing conditions and is expected to close within 90 days. Javier Martí-Fluxá, Marco Antonio Sanz and João Mattamouros Resende of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to Brown-Forman Corporation. Jose Felix zaldivar, Miguel stokes, André P. Nascimento of Uría Menéndez - Proença de Carvalho acted as legal advisor to Destillers United Group S.L. Luis Eduardo Ocando b, Rafael sayagues, Hernan Pacheco, Carlos marquez, Inigo alonso of EY panama, Spain, Portugal, Colombia and United states acted as Due diligence provider to Destillers United Group S.L. McDermott Will & Emery LLP acted as legal advisors to Destillers United Group S.L. Tatiana J whytelord, Daniel Herrera oropeza and Luis Eduardo ocando B. acted as financial advisor to Destillers United Group S.L. Wilf, David of Gibson, Dunn & Crutcher LLP acted as legal advisor to Brown-Forman Corporation. Baker & McKenzie Madrid S.L. acted as legal advisor to Baker & McKenzie Madrid S.L.

Brown-Forman Corporation (NYSE:BF.B) completed the acquisition of Diplomático Rum brand and related assets from Destillers United Group S.L. on January 5, 2023.