Brown-Forman Rejects Sazerac's $15 Billion Offer as Jack Daniel's Owner Defends Family-Controlled Future
Updated
Updated · The Spirits Business · Jul 27
Brown-Forman Rejects Sazerac's $15 Billion Offer as Jack Daniel's Owner Defends Family-Controlled Future
3 articles · Updated · The Spirits Business · Jul 27
Summary
Brown-Forman said it rejected an unsolicited acquisition approach from Sazerac, confirming months of takeover speculation around the Jack Daniel's owner.
Wolf Pen Branch — Brown family members controlling most Class A voting shares — said the proposal did not fit Brown-Forman's long-term vision or shareholder value plans.
The board said it remains focused on geographic expansion, brand building and efficiency improvements while searching for a new CEO after Lawson Whiting announced his retirement last month.
The rebuff follows a May report that Sazerac had floated a roughly $15 billion bid, as Brown-Forman grapples with flat organic sales, weaker Tequila demand and a sharp hit to its Canadian business.
Sazerac has been expanding aggressively through recent deals in Tequila, RTD cocktails and vodka, underscoring consolidation pressure in U.S. spirits even as Brown-Forman sticks to independence.