Irish Distillers Pernod Ricard, part of the Pernod Ricard drinks group, has confirmed the sale of its Paddy whiskey brand to the Sazerac group.
A statement issued by Irish Distillers Pernod Ricard confirmed that the transaction has now taken place, however the value of the transaction has not been disclosed.
Commenting in advance of the deal, Mark Brown, president and chief executive of Sazerac said, “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."
Brown expressed confidence that Sazerac would be able to "take Paddy to the next level, building on its strong history and roots.”
Sazerac, which is headquartered in New Orleans, boasts a range of whiskeys, gins and liqueurs in its portfolio.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
