Brown-Forman, Pernod Ricard end merger talks without deal

LOUISVILLE, Ky. (WDRB) — A potential deal to acquire Louisville-based Brown-Forman officially fell through.

The parent company of Jack Daniel’s said in a news release Tuesday afternoon that it and France-based Pernod Ricard "terminated discussions regarding a potential business combination" after failing to reach "mutually agreeable terms."

Pernod Ricard owns more than 200 brands, including Malibu rum, Absolut vodka and Rabbit Hole bourbon.

The companies first confirmed in late March that they were in talks about a possible merger, but emphasized that discussions were ongoing. In a statement, Brown-Forman said it "regularly explores and evaluates strategic opportunities."

It was recently reported that Sazerac, a Louisville-based spirits company, put in a $15 billion bid to acquire Brown-Forman. The status of that deal is unknown, and neither company has commented further.

Brown-Forman, parent company of Old Forester, Woodford Reserve and Jack Daniel’s, operates in 170 countries and employs about 5,000 people worldwide. It is based in Louisville and has operated there for 155 years, making it the fifth-largest public company in the city.