PARIS--(BUSINESS WIRE)--Regulatory News:
Press Release – 21 September 2021
Pernod Ricard (Paris:RI) is delighted to announce the signing of an agreement for the acquisition of The Whisky Exchange, a leading spirits online and physical retailer and a reference for global whisky and fine spirits lovers.
Since its creation by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange, based in the UK, has become one of the biggest, most successful online drinks retailers, with a catalogue of circa 10,000 products.
The Whisky Exchange has been a pioneer in many innovative services and has become a truly omnichannel player, expanding its activities to on-trade supply and physical stores in the UK, with several award-winning shops in London. It is also active 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.
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.
Sukhinder and Rajbir Singh, founders of The Whisky Exchange, declared : “After more than 20 years building The Whisky Exchange, we are delighted to be joining the Pernod Ricard family and working with them to take the business to the next level. The Whisky Exchange and our customers have always felt like a family, and we are looking forward to maintaining this ethos with a partner that shares our values. Our mission remains the same: to offer the finest range of whiskies and spirits from the best producers around the world, educate and engage with consumers, and support the top on-trade establishments around the UK”.
Alexandre Ricard, Chairman and CEO of Pernod Ricard, stated : “E-commerce is a key channel in our long term strategy. We are thrilled to work with Industry pioneers such as Sukhinder, Rajbir and the whole team to bring The Whisky Exchange to a new step of its development“.
The Whisky Exchange will continue to operate with its current team and structure, with Sukhinder and Rajbir Singh managing the business as joint Managing Directors. The closing of the transaction is subject to customary conditions.
About Pernod Ricard
Pernod Ricard is the world’s No 2 in wines and spirits with consolidated sales of €8,824 million in FY21. Created in 1975 by the merger of Ricard and Pernod, the Group has undergone sustained development, based on both organic growth and acquisitions: Seagram (2001), Allied Domecq (2005) and Vin&Sprit (2008). Pernod Ricard, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive brand portfolios in the industry, including: Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines. Pernod Ricard’s brands are distributed across 160+ markets and by its own salesforce in 73 markets. The Group’s decentralised organisation empowers its 18,500 employees to be true on-the-ground ambassadors of its vision of “Créateurs de Convivialité.” As reaffirmed by the Group’s strategic plan, “Transform and Accelerate,” deployed in 2018, Pernod Ricard’s strategy focuses on investing in long-term, profitable growth for all stakeholders. The Group remains true to its three founding values: entrepreneurial spirit, mutual trust, and a strong sense of ethics, as illustrated by the 2030 Sustainability and Responsibility roadmap supporting the United Nations Sustainable Development Goals (SDGs), “Good times from a good place.” In recognition of Pernod Ricard’s strong commitment to sustainable development and responsible consumption, it has received a Gold rating from Ecovadis. Pernod Ricard is also a United Nations’ Global Compact LEAD company. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
About The Whisky Exchange (www.thewhiskyexchange.com)
Founded in 1999, The Whisky Exchange is the leading global retailer of whiskies and fine spirits, with an award-winning online shop and three shops located in the heart of London at Covent Garden, Great Portland Street and London Bridge.
As a family company, The Whisky Exchange believes in exceptional service and offering excellent products at competitive prices. The company’s philosophy is simple – never rest on your laurels.
The team, led by founders and brothers Sukhinder and Rajbir Singh and buyer Dawn Davies MW, is constantly trying to find new products with genuine heritage and quality in all drinks categories, while continuing to innovate and ensure its website and shop are the best in the business. The Whisky Exchange in numbers: 4,000 whiskies including 3,000 single malt Scotch whiskies; 400 Champagnes, 800 Cognacs and Armagnacs; 700 rums; 600 gins; 300 aperitifs; 400 Tequilas and mezcal; three shops.