Following news that Brown-Forman was leaning toward a merger with Pernod Ricard, talks between the two spirits giants are now reported to be formally ended after mutually agreeable terms failed to be reached.
In a statement published on 28 April 2026, Pernod Ricard has stated they have terminated discussions with Brown-Forman.
The statement said: “On 26 March 2026, Pernod Ricard and Brown-Forman confirmed that they were in discussions regarding a potential business combination.
Pernod Ricard today announces that these discussions have ended and did not result in an agreement, as the companies were unable to reach mutually acceptable terms.
Brown‑Forman also issued the following statement: “We intend to create long-term value for all stakeholders by focusing on our strategic and operational priorities. This includes unlocking future growth by expanding our geographic footprint, continuing to build brands that resonate with consumers, and enhancing operational efficiency.”
Only a fortnight after industry giants Brown-Forman and Pernod Ricard went public with talks teasing of a "merger of equals", it was subsequently reported that American spirits giant Sazerac had reportedly made its own play for Brown-Forman, approaching the company with a potential deal.
Despite no official news from the two firms, a further report quoting an individual close to the matter revealed that the Buffalo Trace owner had submitted a US$15bn bid to purchase Brown-Forman.
Whether the offer remains a live option is currently unconfirmed. To date, Sazerac has maintained its hush, offering no public comment regarding its purported interest in Brown-Forman.
Kanpai!
88 Bamboo Editorial Team
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