Pernod Ricard and Irish Distillers are selling Paddy Irish Whiskey to Sazerac, it was announced last month. The value of the transaction was not disclosed.
Paddy Irish Whiskey is the 4th largest Irish whiskey brand in the world, selling 200,000 9-liter cases in 28 countries worldwide annually. Irish Distillers will continue to produce Paddy Irish Whiskey at its Midleton Distillery.
“In the global market, Irish whiskey experienced the fastest volume growth in the last five years, outpacing all other spirits categories. Consumers worldwide are seeing it as an alternative to other whiskies. If this deal goes through, we are confident that we will be able to take Paddy to the next level, building on its strong history and roots,” said Mark Brown, President and CEO of Sazerac.
Anna Malmhake, Chairman and CEO of Irish Distillers, stated: “At the heart of everything that Irish Distillers does is a desire to see Irish whiskey grow. This deal with Sazerac, if completed, would allow Irish whiskey’s reputation and footprint to grow further internationally. The proposed deal would ensure that Paddy would continue to be produced with the same love and care by our team in Midleton, Cork.”
The sale of Paddy Irish Whiskey is part of Pernod Ricard’s strategy to simplify its portfolio for growth and “could facilitate, among other things, targeted investment in other key Irish Distillers’ whiskey brands including Jameson and Powers to support continued growth.”
