<\/p>\n
Chivas signed a deal with Ferrari<\/p>\n
Spirits companies Pernod Ricard and Brown\u2011Forman Corporation are in talks about a potential merger amid a slowdown in the alcohol market.<\/p>\n
While a deal is not imminent, a joint statement confirmed that talks have been serious. It would unite the world\u2019s second-largest spirits maker with the \u200clargest producer of American whiskey.<\/p>\n
Paris-based Pernod Ricard, owner of Chivas Brothers Scotch whisky and the Glenlivet, is the bigger and broader of the two, but Brown-Forman has one of the world\u2019s most recognisable brands in Jack Daniel\u2019s.<\/p>\n
As news of the potential deal emerged shares in Brown-Forman, which has a market capitalisation of about $11 billion, rose nearly 9%, while those of Pernod, with a market value of about \u20ac16bn fell nearly 6%.<\/p>\n
Both companies have announced\u00a0restructuring plans, including\u00a0job cuts\u00a0at Brown-Forman as consumers tighten their belts and switch to non-alcoholic alternatives.<\/p>\n
The statement said: \u201cIf agreed and subject to customary approvals, this partnership would be akin to a merger of equals, drawing from the talent and expertise of both companies, and creating value for shareholders of both companies.\u201d<\/p>\n
Pernod Ricard added that \u201cthe contemplated combination would create a global spirits leader with enhanced scale, a powerful brand portfolio, and a balanced geographic footprint, all anchored by two iconic families.<\/p>\n
\u201cOperational synergies would be significant, leveraging Brown-Forman\u2019s iconic brands, including Jack Daniel\u2019s, and Pernod Ricard\u2019s global distribution strength and exposure to highest growth potential markets.\u2019<\/p>\n
Brown-Forman said: \u201cWe note the recent market rumours regarding a potential business combination involving Brown\u2011Forman and Pernod Ricard. Brown\u2011Forman regularly explores and evaluates strategic opportunities, and can confirm it is engaged in discussions with Pernod Ricard.\u201d<\/p>\n
Pernod Ricard\u2019s consolidated sales amounted to \u20ac10.96 billion in the last financial year.<\/p>\n
Brown\u2011Forman\u2019s portfolio includes The Glendronach, Glenglassaugh, Benriach, Diplom\u00e1tico Rum, Gin Mare, Fords Gin, Chambord, and Slane.<\/p>\n
Net sales for the nine months ended 31 January increased 2% to $1.1bn (+1% on an organic basis) compared to the same prior-year period. <\/p>\n
\t #Pernod #Ricard #Jack #Daniels #merger #talks #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
Chivas signed a deal with Ferrari Spirits companies Pernod Ricard and Brown\u2011Forman Corporation are in…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[5872,272,5873,306,5878,3815,5874,5653,5876,5875,5877,3741],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/2511"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2511"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/2511\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}