Pernod Ricard, the leading French drinks company behind brands including Jameson and The Glenlivet, has confirmed it is in discussions over a potential merger with Brown-Forman, owner of Jack Daniel’s and Woodford Reserve.

If agreed, and subject to customary regulatory approvals, the transaction would be structured as a merger of equals. The combined company would seek to leverage the talent, expertise, and heritage of both organisations to deliver long-term value for shareholders.

The proposed combination would create a global leader in the spirits industry, benefiting from greater scale, a highly complementary portfolio of premium brands, and a more balanced geographic footprint. The merged entity would unite two iconic, family-influenced businesses with a shared focus on craftsmanship and brand stewardship.

Significant operational synergies are expected, particularly through the integration of Brown-Forman’s globally recognised brands with Pernod Ricard’s extensive international distribution network and strong presence in high-growth markets. This alignment could expand market reach, improve efficiency, and unlock new opportunities for innovation across categories.

Commenting on the reports, a spokesperson for Brown-Forman, said: “We note recent market speculation regarding a potential business combination involving Brown-Forman and Pernod Ricard. Brown-Forman regularly evaluates strategic opportunities and can confirm it is engaged in discussions with Pernod Ricard. If agreed, and subject to customary approvals, the partnership would be structured as a merger of equals, drawing on the strengths of both companies to create shareholder value.”

Pernod Ricard emphasised that there is no certainty a deal will be reached and stated it does not intend to provide further updates unless a formal agreement is concluded or discussions are terminated.