Merger talks end between Jack Daniel’s parent company and Pernod Ricard

7:57 a.m. April 29, 2026

Brown-Forman

DUANE CROSS
MCO Publisher•Editor

One possible future for Jack Daniel’s parent company is off the table.

Brown-Forman said Tuesday that it has ended talks with Pernod Ricard over a possible business combination after the two spirits companies could not reach mutually agreeable terms. The companies first confirmed the discussions on March 26, while also warning there was no guarantee a deal would happen.

Brown-Forman owns the Jack Daniel’s family of brands, the name most closely tied to Lynchburg’s economy, tourism base, and public identity. Jack Daniel’s is not just another label in a global spirits portfolio here. It is the county’s signature employer, its best-known attraction, and the brand most outsiders know before they ever find Moore County on a map.

Brown-Forman gave little detail about why the talks failed, saying only that the companies could not agree on terms. The Louisville-based company said it will continue working on its own plan: expand into more markets, invest in its brands, and tighten operations.

In a brief statement, Brown-Forman said, “We intend to create long-term value for all stakeholders by focusing on our strategic and operational priorities. This includes unlocking future growth by expanding our geographic footprint, continuing to build brands that resonate with consumers, and enhancing operational efficiency.”

Pernod Ricard, based in France, is one of the industry’s heavyweights, with brands including Jameson, Absolut, Chivas Regal, The Glenlivet, and Malibu. A deal would have joined two of the biggest names in the drinks business.

Brown-Forman shares fell as much as 7.1% in premarket trading on Wednesday, though the stock remains up 6.4% for the year. Pernod shares dropped 3.1% in early Paris trading, adding to a year-to-date slide that had already reached 12%.

In its statement on Tuesday, Pernod Ricard confirmed discussions with the Jack Daniel’s owner have now terminated. “On 26 March 2026, Pernod Ricard and Brown-Forman confirmed that they were in discussions regarding a potential business combination.

“Pernod Ricard today announces that these discussions have ended and did not result in an agreement, as the companies were unable to reach mutually acceptable terms.

“Pernod Ricard remains fully focused and confident in its strategy and operating model, supported by strong and committed teams across the group to deliver sustainable long-term value for all stakeholders.”

The end of the Pernod Ricard talks also does not necessarily end broader speculation around Brown-Forman. Sazerac emerged as a competing bidder during the process, with an offer valued at about $15 billion.

In Lynchburg, the biggest whiskey story of the spring is not over.

It just lost one possible ending.