Pernod Ricard and Brown-Forman Abandon Merger Talks, Both Confirm

Pernod Ricard and Brown-Forman are no longer pursuing a potential deal, both companies confirmed in separate press releases today. Brown-Forman’s stock fell by 5.08 percent as of 4:54 p.m. in after-hours trading following the announcements.

News that discussions have been terminated comes just over a month after Pernod and Brown-Forman’s will-they-won’t-they saga came to light. In late March, both spirits producers confirmed they were exploring a business deal, which they described as a “merger of equals.” Sazerac threw its hat into the ring when it offered to buy Brown-Forman for $15 billion. There is no update on that potential deal as of now.

“We intend to create long-term value for all stakeholders by focusing on our strategic and operational priorities,” Brown-Forman says in its press release. “This includes unlocking future growth by expanding our geographic footprint, continuing to build brands that resonate with consumers, and enhancing operational efficiency.”

Brown-Forman is headquartered in Louisville, Ky. and its portfolio of brands includes American whiskeys like Jack Daniel’s and Woodford Reserve as well as El Jimador tequila and other spirits.

In its statement, Pernod said it will remain focused on its existing strategies and business model. Pernod is based in Paris, France, and owns megawatt brands across the beverage-alcohol category, including Absolut Vodka, Beefeater Gin, and Perrier-Jouët champagne.

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