Pernod Ricard Set to Acquire The Whiskey Exchange
Pernod Ricard (Paris:RI) announced the signing of an agreement to acquire 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 roughly 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 programs 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.
In a news release, Sukhinder and Rajbir Singh, founders of The Whisky Exchange, said, “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”.
“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,“ Alexandre Ricard, Chairman and CEO of Pernod Ricard, said.
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.