Overview
- Both companies confirmed Thursday they are holding exploratory talks on a merger‑style partnership and said there is no certainty of a deal.
- A combined group would pair Jack Daniel’s and other Brown‑Forman labels with Pernod Ricard’s global distribution and reach into faster‑growing markets.
- Investors reacted to the reports with Pernod Ricard shares falling about 5.7% in Paris while Brown‑Forman rose roughly 9.6% in New York.
- Recent results show pressure on both groups, with Pernod Ricard’s first‑half profit down 18% and revenue down 15% and Brown‑Forman’s nine‑month sales down about 2%.
- The talks remain non‑binding with no further comment promised until a final agreement or a breakup of discussions, and any deal would need shareholder and regulatory approvals.