Sazerac reportedly eyes Brown-Forman deal
Brown-Forman and Sazerac have refused to comment on a report that claims the two US companies are exploring a potential deal.
A report emerged in the Wall Street Journal yesterday claiming that Sazerac had approached Brown-Forman about a potential deal, citing unnamed sources.
Brown-Forman said it would not issue a statement regarding the topic. Sazerac similarly said it did not have a comment to provide.
The rumoured deal comes just two weeks after publicly traded companies Brown-Forman and Pernod Ricard, which is based in Paris, confirmed they were in discussions about a “merger of equals”.
If successful, the move would combine the world’s second-biggest spirits maker (Pernod Ricard) with the world’s largest producer of American whiskey (Brown-Forman).
A potential alliance between the two firms would support Brown-Forman’s presence outside of its key US market, leveraging Pernod Ricard’s strong distribution network across markets in Europe and Asia.
But a deal with Sazerac would link two major spirits companies that are headquartered in Louisville, Kentucky. Both companies have significant American whiskey portfolios.
Brown-Forman’s portfolio includes Tennessee whiskey Jack Daniel’s, Woodford Reserve Bourbon, El Jimador Tequila, Diplomático rum and Gin Mare, among other brands.
Meanwhile, Sazerac is a family-owned firm with American whiskey brands such as Buffalo Trace, George T Stagg, Weller, 1792 Bourbon, Blanton’s and Eagle Rare.
It also owns ready-to-drink (RTD) brand BuzzBallz, Southern Comfort liqueur (previously owned by Brown-Forman), Sazerac De Forge Cognac, Corazón Tequila, Paul Masson brandy, Svedka Vodka and Myer’s Rum.
Brown-Forman has reported stagnant sales in the nine months to 31 January 2026 as Canada’s year-long ban on US alcohol significantly impacted its revenue. It is not known how Sazerac has performed financially due to its status as a privately held company.
However, like Brown-Forman, its extensive American spirits portfolio will have been removed from the shelves of all Canadian provinces except two.
Brown-Forman CEO Lawson Whiting recently hedged his bets on Woodford Reserve, describing it as “one of the largest brands in the US system with a lot of international potential for us”.
The potential deals come amid a slowdown in demand for spirits, particularly whiskey, as many companies work through excess inventories by cutting production. Tariffs have also hindered exports of spirits worldwide.
Sazerac’s acquisition spree
Brown-Forman has notably taken a long-term approach to its business, making a couple of high-profile acquisitions in recent years. The company’s last major purchases were in 2022 when it bought Diplomático and Gin Mare.
The acquisitions were followed by Brown-Forman’s exit from the vodka category with the US$220 million sale of Finlandia to Coca-Cola in November 2023.
Meanwhile, Sazerac has been more rapid when it comes to M&A activity. Just last month, the business purchased RTD brand Dirty Shirley.
In the last two years, Sazerac has purchased Svedka Vodka from Constellation Brands, and Texas-based producers Western Son Distillery and BuzzBallz.
The Buffalo Trace owner has also been reportedly linked to shuttered Kentucky distillery Garrard County Distilling Co.
Sazerac is set to launch its first Tennessee whiskey this summer.
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