Pernod Ricard confirms discussions with Brown-Forman

Pernod Ricard, the French spirits group, confirmed on March 26, 2026, that it is engaged in discussions with U.S. based Brown-Forman concerning a potential business combination. This confirmation follows recent press speculation regarding the two companies.

The proposed combination, described as a "merger of equals," aims to establish a significant global player in the spirits industry. It would leverage Brown-Forman's iconic brands, such as Jack Daniel's, alongside Pernod Ricard's extensive global distribution network and strong presence in high-growth markets. The companies anticipate substantial operational synergies and value creation for shareholders.

Industry analysts suggest such a consolidation could reshape the competitive landscape of the global spirits market, with larger entities seeking scale and diversified portfolios. The combination would create a powerhouse with a balanced geographic footprint and a comprehensive range of premium and luxury brands.

Pernod Ricard cautioned that there is no certainty that any agreement will be reached and stated it does not intend to provide further updates unless a definitive agreement is made or discussions are terminated. No specific timeline for the discussions has been provided.