Pernod Ricard to acquire Castle Brands

Pernod Ricard has entered into an agreement to acquire Castle Brands for $223 million.

Under the terms of the merger, Castle Brands shareholders will receive $1.27 in cash for each share of Castle Brands stock they own. Pernod Ricard will add drinks brands Jefferson’s Bourbon, Gosling’s rum, Brady’s Irish Cream, the Arran Single Malt Scotch Whisky, and Knappogue Castle Whiskey among others.

Alexandre Ricard, Chairman and Chief Executive Officer of Pernod Ricard, stated, “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.”

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