Pernod Ricard has signed an agreement to acquire The Whisky Exchange, a leading online and bricks-and-mortar spirits retailer.
Since its creation by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange, based in the UK, has become one of the biggest online drinks retailers, with a catalogue of around 10,000 products. The Whisky Exchange functions as an omnichannel player, expanding its activities to on-trade supply and physical stores in the UK, with several shops in London. It is also active in private sales and online auctions of rare spirits, two fast-expanding activities on which The Whisky Exchange will also develop innovative synergies with Pernod Ricard.
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. Sukhinder Singh, founder of The Whisky Exchange, said: “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.”
This acquisition is in line with Pernod Ricard’s consumer-centric strategy of meeting new consumer needs and expectations, in a context of solid e-commerce growth and strong demand for premiumisation. Pernod Ricard will leverage synergies between The Whisky Exchange’s expertise and its in-house platforms such as Drinks&Co and Bodeboca.
Alexandre Ricard, chairman and CEO of Pernod Ricard, stated: “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.” The closing of the transaction is subject to customary conditions.
