A recent report has suggested that American spirits-producing powerhouses Sazerac and Brown-Forman are exploring the possibility of a deal between the two firms.
On 9th April the Wall Street Journal cited unnamed sources who claimed that Sazerac had approached Brown-Forman about a potential deal. Both firms were approached for comment and refused to issue a statement on the rumours.
If a deal were to be brokered between the groups, it would bring together two of the biggest producers of American whiskey. Incidentally, both companies are based in the historic bourbon-making city of Louisville, Kentucky.
Both businesses feature some of there biggest names in American whiskey in their respective portfolios. Brown-Forman is home to Jack Daniels and Woodford Reserve, while Sazerac is behind Buffalo Trace, George T Stagg, Weller, 1792 Bourbon, Blanton’s and Eagle Rare.
Brown-Forman also owns Scotch distilleries Glendronach, Glenglassaugh, and BenRiach. Sazerac does not own any Scottish distilleries, but does own a majority stake in the independent bottler Last Drop Distillers.
Additionally, each business has an impressive roster of non-whiskey spirits. El Jimador Tequila and Diplomático rum are two of the bigger names under the Brown-Forman umbrella, and Sazerac also owns ready-to-drink (RTD) brand BuzzBallz, Southern Comfort, and Corazón Tequila, among others.
Sazerac has been on something of a spree of acquisitions in recent years. In the last two years they have taken over BuzzBallz, Svedka vodka, and Western Son Distillery in Texas. They have also been rumoured to have interest in the currently closed Kentucky distillery Garrard County Distilling Co.
By contrast, Brown-Forman have been moving in the opposite direction. The firm has made no major acquisitions since 2022 and offloaded the Finlandia vodka brand in 2023 as part of a US$220 million deal with Coca-Cola.
These rumours have emerged just weeks after Brown-Forman and French drinks conglomerate Pernod Ricard confirmed that talks had taken place between the two parties after press speculation.
(For more on that story, check out our recent article “Drinks Titans in Merger Talks”.)
Brown-Forman are among the many spirits producers who have been hit hard by the recent global downturn in trade. The firm reported flat sales for the nine month period to 31st January 2026, with the company citing significantly reduced exports to Canada due to many provinces’ boycott of American spirits as the primary reason for this stagnation.
It’s no coincidence that these talks have been taking place then. Even rumours of such discussions speaks volumes.
Perhaps it's unfair to speculate, but it certainly looks as if Brown-Forman are exploring as many options as possible to hopefully find a partnership that will help the company navigate through and survive beyond these incredibly tough and trying times.
