Alert: BF Exploring Merger with Bacardi

Dear Client:The Sunday Telegraph is reporting that Brown-Forman has hired investment banker Lazard to explore a possible deal with Bacardi, ranging from selling individual brands to a merger. Recall that the two companies already operate together in a series of distributor partnerships, including Gemini in the U.S. People in the industry have speculated for years that the two companies could join, but the Telegraph says “difficult conditions” in the alcohol biz has finally prompted them to seriously consider a deal.