Sazerac Prepares $15 Billion Cash Offer for Maker of Jack Daniel’s
The New York Times • • business
Key Points:
- Sazerac is preparing an all-cash offer to buy Brown-Forman, the maker of Jack Daniel’s, valuing the company at about $15 billion, aiming to enhance its previous cash and stock bid.
- Brown-Forman is currently in merger talks with French spirits company Pernod Ricard, which owns brands like Absolut vodka and Jameson whiskey.
- Sazerac’s $32 per share offer represents a 39% premium over Brown-Forman’s share price before deal talks were reported, with the option for investors to choose stock if preferred.
- The potential acquisition could significantly impact the alcohol industry, which faces challenges such as tariffs, supply chain issues, and declining consumption.
- Sazerac has engaged Centerview Partners and Woolery & Co for advisory services, and Brown-Forman’s shares remain controlled by the founding family.
