Published sources are reporting that Pernod Ricard will gladly sell the Wild Turkey bourbon brand and distillery, if a suitable buyer can be found.
The story goes like this. Pernod bought the producer of Absolut Vodka and now needs to raise cash to bring down its debt. It won't sell any of its 15 core brands, but Wild Turkey is not on the protected list. That makes it an endangered species.
According to at least one published report, Wild Turkey is at the very top of the "for sale" list.
A year ago, Pernod announced it was investing $30 million in a major expansion of the Wild Turkey Distillery in Lawrenceburg, Kentucky. Last month, it announced that it needs about a billion dollars to make the Absolut acquisition go down smoothly.
Eyes on the ground tell me not much has actually happened yet in Lawrenceburg except some earth moving.
Obviously, the timing is terrible. The other problem is, the distilled spirits industry is so consolidated now, who could buy it?
Pernod's 15 core brands are Glenlivet, Chivas Regal, Jameson, Havana Club, Ricard, Beefeater, Montana, Ballantine, Kahlua, Malibu, Absolut, Jacob's Creek, Mumm, Perrier-Jouët, and Martell.