Pernod Ricard toasts to US$223m Castle Brands acquistion
The world’s second-largest distiller, Pernod Ricard, along with alcohol manufacturer and marketer Castle Brands Inc. have announced that they have entered into a definitive agreement.
In the deal, a subsidiary of Pernod Ricard will acquire all of the outstanding common stock of Castle Brands for approximately US$223 million, plus the assumption of debt, through a cash tender offer followed by a merger. Pernod Ricard’s acquisition of Castle Brands’ products will expand Pernod Ricard’s line-up of premium brands, which the company says aligns with their consumer-centric strategy.
“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,” says Alexandre Ricard, Chairman and CEO of Pernod Ricard