Brown‑Forman Corp., Louisville, Ky., announced that the company and Pernod Ricard have terminated discussions regarding a potential business combination, as the companies were unable to reach mutually agreeable terms. Brown‑Forman and Pernod Ricard previously confirmed discussions on March 26 and noted there could be no assurance that any such agreement would be reached.

Brown‑Forman issued the following statement:

“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 also issued a statement on April 28:

“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.”

Brown‑Forman Corp. is a global leader in the spirits industry, responsibly building exceptional beverage alcohol brands for more than 155 years. Headquartered in Louisville, Kentucky, we are guided by our founding promise, “Nothing Better in the Market.” Our premium portfolio includes Jack Daniel’s Family of Brands, Woodford Reserve, Old Forester, New Mix, el Jimador, Herradura, The Glendronach, Glenglassaugh, Benriach, Diplomático Rum, Gin Mare, Fords Gin, Chambord, and Slane.

Pernod Ricard is a worldwide leader in the spirits and Champagne industry, blending traditional craftsmanship, state-of-the-art brand development, and global distribution technologies. Its portfolio of premium to luxury brands includes Absolut vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur and Mumm and Perrier-Jouët Champagnes.