Pernod Ricard to acquire online spirits retailer The Whisky Exchange
Founded by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange has built itself into one of the biggest online drinks retailers, with a catalogue of around 10,000 products across whisky, spirits, wine and beer.
It has also expanded its activities to on-trade supply and physical stores in the UK, with several shops in London. Pernod Ricard also notes the company’s activities in private sales and online auctions of rare spirits: two fast-expanding activities on which The Whisky Exchange will also develop innovative synergies with Pernod Ricard.
Pernod Ricard says e-commerce is a key channel in its long-term strategy, as well as tapping into other consumer trends.
“This acquisition is in line with Pernod Ricard’s consumer centric strategy of meeting new consumer needs and expectations, in a context of solid e-commerce growth and strong demand for premiumisation. Pernod Ricard will leverage synergies between The Whisky Exchange’s expertise and its in-house platforms such as Drinks&Co and Bodeboca.”
The Whisky Exchange's team and structure will remain in place, with Sukhinder and Rajbir Singh as joint managing directors. The closing of the transaction is subject to customary conditions.
Pernod Ricard is not alone in boosting its ecommerce presence. Earlier this year, Moet Hennessy and Campari Group announced an ecommerce joint venture in the European wine and spirits space; while Campari also acquired a 49% stake in Italian ecommerce player Tannico last year. Constellation Brands, meanwhile, acquired 'digitally native' and DTC platform Empathy Wines.
