Sazerac Acquires Au Vodka for Over £300 Million, Source Says
Spirits company Sazerac has completed the acquisition of UK-based Au Vodka for over £300 million to strengthen its global market presence.
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Spirits company Sazerac has completed the acquisition of UK-based Au Vodka for over £300 million to strengthen its global market presence.
Brown-Forman has rejected a roughly $15 billion takeover offer from rival spirits maker Sazerac, according to a Wall Street Journal report citing sources familiar with the matter.
Brown-Forman shares fell 6% after merger talks with Pernod Ricard collapsed due to unmet terms, shifting investor focus to demand challenges and potential Sazerac bids.
Pernod Ricard confirmed the termination of merger negotiations with Brown-Forman, citing failed terms, while rival Sazerac remains a potential bidder.
John Distilleries' founder considers selling remaining stake to Sazerac at a higher valuation, targeting profitability by 2028 as India's spirits market grows.
Sazerac has made a $15 billion offer to acquire Brown-Forman at $32 per share, challenging Pernod Ricard's merger attempt amid industry-wide sales and cost challenges.
Sazerac approached Brown-Forman for a potential deal, but analysts favor Pernod-Ricard due to better portfolio fit and growth potential in emerging markets.