Pernod Ricard and Brown-Forman Terminate Combination Talks

Pernod Ricard and Brown-Forman announced on April 28, 2026, that discussions concerning a potential business combination have been terminated. The companies stated that they were unable to reach mutually acceptable terms, leading to the conclusion of negotiations.

The initial talks regarding a potential combination were confirmed by both spirits companies on March 26, 2026. The termination of these discussions signifies that no agreement has been reached between the two parties.

Pernod Ricard affirmed its continued commitment to its current strategy and operating model. The company expressed confidence in its teams and its ability to deliver sustainable long-term value for all stakeholders.

Following the end of these discussions, Pernod Ricard will continue to pursue its established business objectives without the integration of Brown-Forman's operations.