Family owned Brown-Forman, wants to merge with family owned Bacardi. Brown-Forman has a large stable of strong American brands including Early Times, Woodford Reserve, and Old Forester Bourbons.

The two companies have been long considered ideal partners, but because of family ownership a deal has never been struck. Since the spirits industry is in difficult times, it appears the families are more willing to talk.

Lazard has been hired as investment banking advisers to consider a possible merger with Bacardi.

Brown-Forman and Bacardi declined to comment.