Brown-Forman and Pernod Ricard are in exploratory discussions about a possible merger or an acquisition of the former by the latter, reports today (26 March) have claimed.
A news article from Bloomberg this afternoon has claimed the two companies have “held some initial discussions” regarding teaming up. The report cited unnamed sources “who asked not to be identified because the information is private”.
“Deliberations are ongoing and there’s no certainty they will result in a deal,” Bloomberg added.
In its subsequent coverage, however, Reuters suggested that Pernod Ricard is eyeing a “potential deal” for Brown-Forman. Reuters cited its own unnamed source.
When contacted by Global Drinks Intel following the publication of the two articles, Pernod Ricard did not provide any further comment, beyond assurance that the company would “be in touch if/when we have something to say”.
Brown-Forman had not replied when Global Drinks Intel went to press.
The Jack Daniel’s owner has a current market capitalisation in the region of US$12.67bn. Pernod Ricard’s market cap sits at around $18.14bn.
Last month, Pernod promised there would be better times ahead after sales declined 5% in the group’s fiscal second quarter – to the end of December. For the first half of fiscal 2026, sales were down 5.9%.
In Brown-Forman’s most recent results – its fiscal Q3, to the end of January – the group booked a slight increase in sales of 1%. For the first nine months of its fiscal 2026, however, the top line remained flat on the corresponding period a year earlier.
