Wine and spirits multinational Pernod Ricard has announced the acquisition of Castle Brands, a New York based spirits firm, for $223 million.
Castle Brands market a range of “high end premium brands” that includes Arran whisky, Boru Irish vodka, Brady’s Irish cream, Clontarf whiskey, Celtic honey liqueur, Goslings rum, Gozio amaretto, Jefferson’s bourbon, Knappogue Castle whiskey and Pallini liqueurs.
Commenting on the deal, Pernod Ricard chairman and CEO Alexandre 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”.
The deal is expected to close in the fourth quarter of 2019.
Source: Pernod Ricard / Castle Brands