Brown-Forman has officially ended merger discussions with French spirits giant Pernod Ricard, citing an inability to reach mutually agreeable terms.
The Kentucky-based whiskey maker had been in talks last month to potentially merge with Pernod, known for brands like Absolut vodka and Malibu Rum.
The proposed merger aimed to create a “global spirits leader,” combining Pernod’s portfolio of brands such as Jameson whiskey and Beefeater London.
“We are committed to creating long-term value for all stakeholders through strategic priorities,” stated Brown-Forman. “This includes expanding our geographic presence, strengthening consumer-centric brands, and improving operational efficiency.”
A merger at this time would have been challenging for the spirits industry, which has seen a decline in consumption as consumers shift preferences. Some bourbon and whiskey producers, like Jim Beam and MGP Ingredients, have already adjusted production to adapt to changing market dynamics.
Reports have surfaced that Sazerac, owner of Fireball, may be considering a similar acquisition of Brown-Forman. However, Brown-Forman has not commented on these speculations.