Sazerac is showing interest in purchasing Brown-Forman Corporation, owner of such brands as Jack Daniel’s and Woodford Reserve, per multiple sources.

Brown-Forman has recently been in discussions with Pernod Ricard about a potential merger. While that hasn’t yet transpired, Sazerac, which owns such brands as Buffalo Trace, has now entered the discussion. The news was first reported by The Wall Street Journal.

As a result, as reported by Reuters, shares of Brown-Forman rose 13% on Thursday.

Per Reuters, “The deal talks underscore efforts by spirits makers globally to jumpstart growth following a prolonged downturn marked by slowing demand, ​cost pressures and tariff-related disruptions.”

Neither Sazerac nor Brown-Forman have commented on the reports.

Both Pernod Ricard and Brown-Forman, which owns multiple spirits brands, had acknowledged in March that they were in talks of a potential merger, although no concrete decisions were in place, according to BeverageDaily.com. Those negotiations reportedly remain ongoing.

Sazerac and Brown-Forman have had business dealings in the past – 10 years ago, Brown-Forman sold the Southern Comfort and Tuaca trademarks to Sazerac for $542.4 million.

Read more: Brown-Forman Confirms Pernod Ricard ‘Partnership’ Negotiations