Pernod Ricard Boosts E-Commerce Business, Agreeing To Acquire U.K. Retailer The Whisky ExchangeSeptember 21, 2021
Pernod Ricard has agreed to acquire U.K. retailer The Whisky Exchange in a move that will bolster its e-commerce business. Financials weren’t disclosed. Founded by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange carries over 10,000 products and is known for its online shop as well as three brick-and-mortar locations in London at Covent Garden, Great Portland Street, and London Bridge.
Pernod said the deal is in line with its “consumer-centric strategy of meeting new consumer needs and expectations, in a context of solid e-commerce growth and strong demand for premiumization.” Chairman and CEO Alexandre Ricard called the Singhs pioneers of the online sales space, noting that “E-commerce is a key channel in our long term strategy.”
The Whisky Exchange’s parent company had sales of just under $100 million last year, Bloomberg reported. Its catalogue features more than 4,000 whiskies of various kinds, and reaches 30 countries. In addition to the e-commerce and physical retail footprint, Pernod will be able to leverage The Whisky Exchange’s real-time data on categories and specific brands.
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 acquisition is subject to customary closing conditions.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.