Jack Daniel’s Maker Brown-Forman to Buyback $250M Shares

Alcoholic beverage maker Brown-Forman (NYSE:BFA) announced on Friday that its board of directors has authorized a $250 million stock repurchase program.

The Louisville, Ky.-based maker of Jack Daniel’s, Southern Comfort and Herradura Tequila said it will offer the outstanding shares through November 30, subject to market and other conditions.

Brown-Forman CEO Paul Varga said the transaction demonstrates the company’s continued confidence in its long-term growth prospects.