How $100 Million Expansion Will Drive Jack Daniel’s Sales Even More

Companies and Brands

Published: August 22, 2013 11:25 am

If you are ever playing the word association game and bourbon comes up, chances are high that the first or second brand you would associate it with is Jack Daniel’s Tennessee Whiskey. Brown-Forman Corp. (NYSE: BF-A) (NYSE: BF-B) is going to invest another $100 million into expanding its Jack Daniel’s distillery to make sure that it stays that way, or becomes the case even more. Jack Daniel’s Tennessee Honey is part of the increased demand, and that has only been on the market a couple of years.

Brown Foreman said it is investing more than $100 million to expand the Jack Daniel Distillery due to global demand for its world-famous Tennessee Whiskey. The expansion will include additional stills, barrel warehouses and related infrastructure to support the expanding operations. Construction on the planned expansion will begin this fall and is expected to be completed within two years.

Brown-Forman also will add about 90 more full-time jobs over the next five years. The distillery expansion will be located on distillery property in the Lynchburg area.

Jack Daniel’s Tennessee Whiskey has grown in volume for what is said to be 21 consecutive years, and the Jack Daniel’s family of brands grew global net sales by 9% in the last fiscal year.

Rival distillery Beam Inc. (NYSE: BEAM) also experienced growth in its sales, driven in part by sales of Jim Beam, Makers Mark and other premium bourbon brands. Beam’s sales growth ahead is expected to average about 5%.

If you ever get a chance to visit these distilleries you should take advantage of it. They are impressive operations.

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.