Pernod Ricard to acquire The Whisky Exchange
After 22 years, Sukhinder and Rajbir Singh sell their successful company
With the purchase of the British spirits retailer TheExchange, Pernod Ricard landed a surprising coup and made a big step regarding e-commerce. The financial world reacted directly: Pernod Ricard's share price increased after the deal became known.
According to a press release from Pernod Ricard, the founders and previous owners of The Whisky Exchange, Sukhinder and Rajbir Singh, will continue to lead the London-based company and continue to work with their previous team as managing directors.
They say: “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,“ added Alexandre Ricard, Chairman and CEO of Pernod Ricard.
As Mark Gillespie from Whiskycast reports, the currently under construction on Islay, the activities as Elixir Distillers and those as distributor of various whiskies, Specialty Brands, are excluded from this takeover. In addition to the online shop, it also includes retail shops in the UK, specialty drinks sales, the online platform .auction and the annual whisky show organized by The Whisky Exchange.