The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

A potential bidding war over Jack Daniel's producer Brown-Forman is emerging after Sazerac made a $15 billion offer to acquire Brown-Forman amid negotiations with Pernod Ricard, according to reporting by Reuters.

The privately held New Orleans-based group has reportedly offered $32 per share for Brown-Forman, the producer best known for Jack Daniel's whiskey. The move complicates ongoing merger discussions between Brown Forman and French drinks giant Pernod Ricard.

The bid underscores mounting pressure across the alcohol sector, with persistent supply chain disruptions, tariff uncertainty and softening demands impacting the market.

A tie-up between Pernod Ricard and Brown-Forman had been widely seen by analysts as strategically compelling, combining Pernod’s global distribution network with Brown-Forman’s premium whiskey portfolio.

Sazerac’s bid offers deep-rooted ties to Brown-Forman through decades of shared history in Kentucky’s closely connected bourbon industry. Additionally, a combination of Sazerac and Brown-Forman could gain increased bargaining power with major US distributors.

Sazerac has steadily expanded its footprint in recent years through acquisitions of established liquor brands, signalling a long-term portfolio diversification and premiumisation strategy.

Despite the competing bid, discussions between Pernod Ricard and Brown-Forman remain ongoing. Finance chief Hélène de Tissot confirmed in a recent analyst call that negotiations are continuing, though the company declined to provide further details.