Pernod Ricard to acquire Castle Brands
Pernod Ricard will, through a subsidiary, acquire the New York headquartered company for £223m. Castle Brands’ portfolio includes Jefferson’s, Jefferson’s Presidential Select, Jefferson’s Reserve, Jefferson’s Ocean Aged at Sea Bourbon, Jefferson’s Wine Finish Collection and Jefferson’s Wood Experiments, Goslings Rums, Goslings Stormy Ginger Beer, Knappogue Castle Whiskey, Clontarf Irish Whiskey, Pallini Limoncello, Boru Vodka, Brady’s Irish Cream, The Arran Malt Single Malt Scotch Whisky, The Robert Burns Scotch Whisky and Machrie Moor Scotch Whisky.
Alexandre Ricard, Chairman and Chief Executive Officer of Pernod Ricard, said: “Through this acquisition we welcome this great brand portfolio, in particular, Jefferson’s bourbon whiskey, to the Pernod Ricard family.
“Bourbon is a key category in the US which is our single most important market. This deal aligns well with our consumer-centric strategy to offer our consumers the broadest line-up of high-quality premium brands.
"As with our American whiskies Smooth Ambler, Rabbit Hole and TX, we would provide Jefferson’s a strong route to market and secure its long-term development, while remaining true to its authentic and innovative character.”
Richard J. Lampen, President and Chief Executive Officer of Castle Brands, said: “We are very pleased to reach an agreement with Pernod Ricard, which is the result of months of planning and deliberation by our Board of Directors.
“We are confident that this transaction, upon closing, will deliver immediate and substantial cash value to our shareholders.”
Pernod Ricard's purchase of Castle Brands follows its acquisition of a majority share in super premium spirits brand Rabbit Hole earlier this year, eyeing up a 'renaissance' in the bourbon category.
Other recent acquisitions in spirits include super-premium Italian gin Malfy (2019) and Black Forest gin Monkey 47 (2016).