Brown-Forman buys tequila brands

LOUISVILLE, Ky., Aug. 28 (UPI) -- Kentucky's Brown-Forman Corp. said Monday it was paying $876 million to buy a Mexican distillery that makes two high-selling tequila brands.

Grupo Industrial Herradura SA de CV, a 136-year-old company, makes Herradura and El Jimador tequilas and the New Mex tequila-based ready-to-drink brand.

Grupo Industrial Herradura has about 1,100 employees and had net sales last year of some $200 million.

Brown-Forman owns Jack Daniels Tennessee whiskey, Southern Comfort whiskey and Finlandia vodka, greater access to one of the fastest-growing categories of liquor in the United States.