Brown-Forman closes on property for new distillery

LOUISVILLE, Ky. (AP) — Spirits maker Brown-Forman Corp. has closed on downtown Louisville property that will become a distillery to make Old Forester bourbon.

The Louisville-based company says it paid $4.5 million for the property.

The company announced last year it will open the Old Forester Distillery in two historic buildings along Whiskey Row in the fall of 2016.

The combined buildings have about 55,000 square feet. The company says the brick and masonry facade of the building will be preserved and fully restored during the project. The properties were built around 1857 and used for warehousing barrels of whiskey produced at area distilleries.

Brown-Forman says it anticipates investing about $45 million in the project. The new distillery will allow the company to double its current production of Old Forester, its founding brand.