Pernod Ricard to buy The Whisky Exchange
Pernod Ricard, owner of Chivas Brothers, decided to buy The Whisky Exchange to boost e-commerce growth and premium offerings. TWE is a family business founded in 1999 by Sukhinder and Rajbir Singh. It has since grown to become the largest retailer of whisky and other spirits on the Internet, serving thousands of customers every week.
Pernod Ricard is the international number 2 in wines and spirits, with consolidated sales of €8,824 million in FY21. The company was founded in 1975 by the merger of Ricard and Pernod, which owns 16 brands from the Top 100 Spirits List. It has one of the most prestigious and versatile brand portfolios in the industry, including: Absolut Vodka, Ricard pastis, Ballantine's, Chivas Regal, Royal Salute and The Glenlivet Scotch whisky, Jameson Irish whisky, Martell cognac, Havana Club rum and many more.
The amount of the retailer's acquisition by Pernod Ricard has not been disclosed. The Singh brothers said: “After more than 20 years of building The Whisky Exchange, we are delighted to join the Pernod Ricard family and work with them to take the business to the next level. TWE and our customers have always felt like family and we look forward to maintaining this ethos with a partner who shares our values.”
The brothers emphasize that their mission remains the same, which is to offer the best range of whisky and spirits from the best producers from around the world. Pernod Ricard aims to meet the needs of consumers through partnership, focusing on the development of e-commerce and the demand for premium alcohols.
Pernod Ricard-Alexandre Ricard CEO explained: “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.”