Privately owned Sazerac Co. has reportedly approached Brown-Forman about a potential deal, according to a report in the Wall Street Journal. The development comes as Brown-Forman’s separate negotiations with Pernod Ricard over a possible merger of equals remain ongoing.
The Wall Street Journal’s report, published on April 9, claimed that Sazerac "recently approached" Brown-Forman, citing unspecified "people familiar with the matter."
The article provided no further details beyond the single-sentence claim.
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READ THE STORYNeither Brown-Forman nor Sazerac has chosen to comment on the speculation linking the two American whiskey specialists.
Brown-Forman’s share price leaped by almost 13% immediately after the Wall Street Journal’s report was published.
The Sazerac approach comes almost exactly two weeks after Brown-Forman and Pernod Ricard separately confirmed they were in discussions about a potential "business combination." Both companies described the talks as being "akin to a merger of equals," should negotiations end successfully.
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Those negotiations between Brown-Forman and Pernod Ricard are understood to remain ongoing despite the reported Sazerac approach.
Brown-Forman, the Louisville-based owner of Jack Daniel’s Tennessee Whiskey, and Buffalo Trace bourbon owner Sazerac are no strangers to doing business together.
Almost exactly ten years ago, Brown-Forman completed the divestment of its Southern Comfort and Tuaca brands to Sazerac for a fee of just over $540 million (£430 million).
Sazerac, headquartered in New Orleans, is one of the largest privately held spirits companies in the United States. Its portfolio includes Buffalo Trace, Pappy Van Winkle, Fireball, and the eponymous Sazerac Rye.
Brown-Forman, meanwhile, remains controlled by the Brown family, which holds a majority of the company’s voting shares. The family’s long-standing stewardship of the company has historically made it a difficult acquisition target.
Any deal between Brown-Forman and either Pernod Ricard or Sazerac would represent a transformative moment for the global spirits industry. Pernod Ricard is the world’s second-largest spirits company by revenue, while Sazerac’s extensive American whiskey holdings would create a domestic powerhouse.
The industry now watches closely to see which path Brown-Forman ultimately pursues.
