Agave Leaves a Mark on B-F

Brown-Forman experienced the same changing trends as other spirits companies in the recent period, namely a worsening economy and shift to the off-trade, but one thing was notably different: agave. A combination of bad weather and questionable farming practices left B-F short on the agave fruit that is vital in producing tequila in the first quarter. CFO Don Berg said the company understood the volatility of an agricultural product when it acquired Casa Herradura. However, B-F experienced an abnormal loss