Shares in Pernod Ricard, the French drinks giant behind Jameson and Powers Irish whiskey, rose on Friday after the group confirmed it is in merger discussions with Jack Daniel’s whiskey owner, Brown Forman.
In a statement late on Thursday, the Paris-listed group, which also makes Absolut vodka and Martell brandy, among other well-known brands, said the potential combination would create a “global spirits leader” with “a powerful brand portfolio”.
The Financial Times and Bloomberg had reported on Thursday that the discussions were at an early stage, according to a source with knowledge of the talks.
A deal would combine Pernod’s key brands – including Jameson, made by Pernod-owned Irish Distillers in Midleton, Co Cork – with Brown-Forman’s stable of brands, including Woodford Reserve premium whiskey and El Jimador tequila.
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“Following recent speculation in the press, Pernod Ricard confirms that it is in discussions regarding a potential business combination with Brown-Forman,” the group said in a statement.
“If agreed and subject to customary approvals, this partnership would be akin to a merger of equals, drawing from the talent and expertise of both companies, and creating value for shareholders of both companies.”
Pernod’s shares jumped by more than 3 per cent in early trading on Friday.
The group’s shares have tumbled by around 20 per cent over the past 12 months, against a backdrop of subdued demand in China and the US as well as US tariffs on European goods, including liquor.
One of Europe’s biggest drinks groups, valued at around €15.2 billion, Pernod has offloaded wine assets in recent years as it looked to refocus on its core spirits brands.
Louisville, Kentucky-headquartered Brown-Forman, meanwhile, has seen its shares slide by almost 25 per cent over the same period.
The group established a presence in Ireland in 2015 after investing a reported €44 million in the Slane Castle Irish Whiskey distillery in Co Meath, originally established by the Conyngham family on the site of the historic house and concert venue.
Pernod Ricard was created through a merger in 1975, and its founding family remains involved as shareholders and managers in the group. Its group chief executive is Alexandre Ricard, who ran Irish Distillers and was based in Dublin for a period. The company can trace its roots back to when the first Pernod pastis drinks were made in the early 19th century. – Additional reporting, The Financial Times Limited 2026
