Brown-Forman Corporation·Consumer Defensive

Privately held bourbon maker Sazerac has emerged as an interloper in Pernod-Ricard's attempt to merge with Jack Daniel's owner Brown-Forman, according to a source familiar with the matter, even though analysts still think Pernod's portfolio and global reach make the French spirits maker a better fit.

Shares of Brown-Forman had their best day in years on Thursday, after the U.S.-based spirits seller Sazerac reportedly expressed interest in doing a deal of some kind with the maker of Jack Daniel's.

Sazerac has approached Jack Daniel's maker Brown-Forman about a potential deal, says a report.

Privately held U.S.-based alcoholic beverage maker Sazerac is exploring a deal with Jack Daniel's maker Brown-Forman , the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Interest comes as Pernod Ricard has been discussing a mostly stock deal with Brown-Forman.

Brown-Forman and Pernod Ricard are in acquisition talks, potentially creating a global spirits powerhouse to rival Diageo. Both BF.B and PRNDY have seen significant share price declines and now trade at comparable valuation multiples. Synergies from a potential deal would be substantial, and the two businesses complement each other both geographically and from a brand perspective.
Brown-Forman Corporation, together with its subsidiaries, manufactures, distills, bottles, imports, exports, markets, and sells various alcoholic beverages. It provides spirits, wines, whiskey spirits, whiskey-based flavored liqueurs, ready-to-drink and ready-to-pour products, ready-to-drink cocktails, vodkas, tequilas, champagnes, brandy, bourbons, and liqueurs. The company offers its products primarily under the Jack Daniel's, Reserve, Old Forester, Coopers' Craft, Herradura, el Jimador, New Mix, Korbel Champagnes, Sonoma-Cutrer, Finlandia, GlenDronach, Benriach, Glenglassaugh, Chambord, Slane, and Fords Gin brands. It is also involved in the sale of used barrels, bulk whiskey, and wine; and provision of contract bottling services. The company serves retail customers and consumers through distributors or state governments; and retailers, wholesalers, and provincial governments directly. It has operations in the United States, Germany, Australia, the United Kingdom, Mexico, and internationally. The company was founded in 1870 and is headquartered in Louisville, Kentucky.
Consumer Defensive
Beverages - Wineries & Distilleries
5,700
1973-05-03
0.42