Brown-Forman and Pernod Ricard acknowledge discussions over possible merger
March 27, 2026 6:46 AM
IH Market News
U.S. whiskey producer Brown-Forman (NYSE:BF.A) and French spirits group Pernod Ricard (EU:RI) said on Thursday that they are in talks about a potential combination structured as a “merger of equals.”
In separate statements, the companies confirmed earlier media reports that negotiations between the two drinks makers are underway.
“If agreed to and subject to customary approvals, this partnership would be similar to a merger of equals,” the companies said in separate statements. They added that a merger would result in “significant” operational synergies.
Shares of Brown-Forman gained 2.7% in after-hours trading after the announcement, following a nearly 10% rise during Thursday’s regular session.
Pernod Ricard shares, by contrast, ended Thursday’s trading about 6% lower.
A deal between the two companies would unite the world’s second-largest spirits producer with the leading U.S. whiskey maker, creating the largest spirits group globally.
The discussions come at a time when global alcohol companies are facing slower sales growth and increasing costs. Consumer demand has softened as many people reduce alcohol consumption due to health concerns and tighter household budgets.
The industry has also been affected by trade disruptions tied to U.S. tariffs on imported goods, while competition from emerging sectors — particularly cannabis — has also weighed on liquor sales.
Both Pernod Ricard and Brown-Forman have recently introduced restructuring measures that include workforce reductions.
Brown Forman stock price
Original: Brown-Forman and Pernod Ricard acknowledge discussions over possible merger
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