Apr 10, 2026 - Business

Kentucky bourbon giants may merge

Dan Primack

Illustration of George Washington from a one dollar bill peeking out of a barrel — Illustration: Sarah Grillo/Axios

Sazerac, the maker of Buffalo Trace bourbon and cinnamon-flavored Fireball, reportedly has made a takeover approach to Brown-Forman, the Jack Daniel's Tennessee Whiskey maker that's been in talks to be acquired by Pernod Ricard.

Why it matters: Booze brands are in decline, thanks to a sober-minded Gen Z, and are hoping the scale and synergies can reverse the skid. Particularly when a merger-friendly White House is in power.

Zoom in: Both Sazarac and Brown-Forman are based in Louisville, whereas Pernod Ricard is French.

Brown-Forman shares are up more than 20% over the past month, giving it a market cap of nearly $14 billion.

Go deeper via the WSJ, which first scooped the news: "The founding families of Sazerac, Pernod Ricard and Brown-Forman all maintain stakes in their companies, with Sazerac remaining entirely family-owned. William Goldring and his family are the third and fourth generation of Sazerac's family owners."

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Kentucky bourbon giants may merge

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