Brown-Forman announced that it completed the sale of Sonoma-Cutrer Vineyards and related brand trademarks to The Duckhorn Portfolio, Inc. on April 30, 2024. In November 2023, Brown-Forman disclosed it had reached an agreement to sell the brand in exchange for an ownership percentage of approximately 21.5% in The Duckhorn Portfolio and $50 million. As part of the agreement, The Duckhorn Portfolio has named two Brown-Forman executives to its Board of Directors, Marshall Farrer, Chief Strategic Growth Officer, and Tim Nall, Chief Global Supply Chain and Technology Officer.
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- The Duckhorn Portfolio, Inc. Appoints Marshall Farrer and Tim Nall to its Board of Directors