Brown-Forman Corporation·Consumer Defensive

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.

Shares of Brown-Forman surged on Thursday after reports that privately held Sazerac had approached the company about a potential deal, adding a new twist to ongoing consolidation efforts in the global spirits industry. The stock rose as much as 14.93% on Thursday following a report by The Wall Street Journal, reflecting investor optimism over a possible takeover or merger scenario.

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 B (BF.B) reported earnings 30 days ago. What's next for the stock?
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
1980-03-17
0.42