Brown-Forman, the maker of Jack Daniel's whiskey, said it would sell its liqueur brands, Southern Comfort and Tuaca, to alcohol maker Sazerac for $543.5 million (€499m).
The group, which owns the Slane Castle Irish Whiskey Company, said the sale would contribute about $475 million to its fiscal 2016 operating income.
Reuters reported in September, citing sources, that the company had hired Goldman Sachs to explore a sale of some brands as it wanted to focus on its core whiskey business.
Brown-Forman chief executive Paul Varga said on Thursday the decision to sell these brands reflected the company's "evolving portfolio strategy."
The Louisville, Kentucky-based company acquired Southern Comfort in 1979 and Tuaca in 2002.
Brown-Forman shares were unchanged at $91.51 in premarket trading.
Goldman Sachs and Gibson, Dunn & Crutcher advised Brown-Forman, while Wells Fargo Securities is Metairie, Louisiana-based Sazerac's financial adviser.
