Brown-Forman Corporation will sell liqueur brands Sothern Comfort and Tuaca to Louisiana-based rival Sazerac for $543.5 million.

Brown-Forman—whose brands include Jack Daneils, el Jimador and Woodford Reserve—has marketed Southern Comfort since acquiring the brand in 1979. The company acquired Tuaca in two transactions, completing the purchase in 2002.

“We are very excited about the opportunity to acquire such iconic brands,” says Mark Brown, president and CEO of Sazerac. “Brown-Forman has done an excellent job of building both brands over the years and we are looking forward to many more years of successful brand building.”

The transaction is expected to close in March and is subject to regulatory clearance in the US and customary closing conditions.

Brown-Forman CEO Paul Varga said the decision to sell these brands reflects the company’s evolving portfolio strategy and a continuation of its efforts to focus resources on top brands.