BROWN-FORMAN CORPORATION
'This planned contribution supports the
Additionally, the Dendrifund, a nonprofit sustainability seed fund jointly created by Brown-Forman and the Brown family, will receive a
sustainability within the whiskey industry. This contribution will empower Dendrifund to progress its mission, focusing on crucial natural resources essential for whiskey distillation and aging: grains, water, and wood.
Brown-Forman's commitment to the
For more than 150 years,
Brown-Forman established the
Dendrifund
Established in 2012 with an inaugural donation from Brown-Forman, Dendrifund has partnered with Brown-Forman, the Brown family, and community members to strengthen connections across wood, water, and grain value chains for greater sustainability. Dendrifund is committed to cultivating common ground for common solutions to address ecosystems issues related to three natural resources most important for the distillation and aging of whiskey: wood(lands), water(sheds), and grain(fields). For more information about Dendrifund, see www.dendrifund.org.
Important Information on Forward-Looking Statements:
This press release contains statements, estimates, and projections that are 'forward-looking statements' as defined under
projections. These risks and uncertainties include, but are not limited to:
Our substantial dependence upon the continued growth of the
Substantial competition from new entrants, consolidations by competitors and retailers, and other competitive activities, such as pricing actions (including price reductions, promotions, discounting, couponing, or free goods), marketing, category expansion, product introductions, or entry or expansion in our geographic markets or distribution networks
Route-to-consumer changes that affect the timing of our sales, temporarily disrupt the marketing or sale of our products, or result in higher fixed costs
Disruption of our distribution network or inventory fluctuations in our products by distributors, wholesalers, or retailers
Changes in consumer preferences, consumption, or purchase patterns - particularly away from larger producers in favor of small distilleries or local producers, or away from brown spirits, our premium products, or spirits generally, and our ability to anticipate or react to them; further legalization of marijuana; shifts in consumer purchase practices; bar, restaurant, travel, or other on-premise declines; shifts in demographic or health and wellness trends; or unfavorable consumer reaction to new products, line extensions, package changes, product reformulations, or other product innovation
Production facility, aging warehouse, or supply chain disruption
Imprecision in supply/demand forecasting
Higher costs, lower quality, or unavailability of energy, water, raw materials, product ingredients, or labor
Impact of health epidemics and pandemics, including the COVID-19 pandemic, and the risk of the resulting negative economic impacts and related governmental actions
Unfavorable global or regional economic conditions, particularly related to the COVID-19 pandemic, and related economic slowdowns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, budget deficits, burdensome government debt, austerity measures, higher interest rates, higher taxes, political instability, higher inflation, deflation, lower returns on pension assets, or lower discount rates for pension obligations
Product recalls or other product liability claims, product tampering, contamination, or quality issues
Negative publicity related to our company, products, brands, marketing, executive leadership, employees, Board of Directors, family stockholders, operations, business performance, or prospects
Failure to attract or retain key executive or employee talent
Risks associated with acquisitions, dispositions, business partnerships, or investments - such as acquisition integration, termination difficulties or costs, or impairment in recorded value
Risks associated with being a
Failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations
Fluctuations in foreign currency exchange rates, particularly a stronger
Changes in laws, regulatory measures, or governmental policies - especially those that affect the production, importation, marketing, labeling, pricing, distribution, sale, or consumption of our beverage alcohol products
Tax rate changes (including excise, corporate, sales or value-added taxes, property taxes, payroll taxes, import and export duties, and tariffs) or changes in related reserves, changes in tax rules or accounting standards, and the unpredictability and suddenness with which they can occur
Decline in the social acceptability of beverage alcohol in significant markets
Significant additional labeling or warning requirements or limitations on availability of our beverage alcohol products
Counterfeiting and inadequate protection of our intellectual property rights
Significant legal disputes and proceedings, or government investigations
Cyber breach or failure or corruption of our key information technology systems or those of our suppliers, customers, or direct and indirect business partners, or failure to comply with personal data protection laws
Our status as a family 'controlled company' under
For further information on these and other risks, please refer to our public filings, including the 'Risk Factors' section of our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the
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