Pernod Ricard buys the Whisky Exchange
Pernod Ricard has bought one of the UK’s largest online spirits retailers, The Whisky Exchange, for an undisclosed sum.
The specialist retail company was created by Sukhinder and Rajbir Singh in 1999, and has become an authoritative voice within a highly specialised field, with a catalogue of around 10,000 products. It has scooped a string of Drinks Business swards, including Online retailer of the Year in 2020 and 2018, Drinks Event of the Year in 2020 and 2018, and Independent Business of the Year in 2012. It currently operates three award-winning bricks and mortar stores in London, in Borough, Marylebone and Covent Garden, as well as its award-winning ecommerce operation and on-trade division, Speciality Drinks. It is also active in private sales and online auctions of rare spirits – two fast-expanding activities which The Whisky Exchange will develop innovative synergies with Pernod Ricard, the company said.
The 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”, the French company said. The move will also allow it to leverage synergies between The Whisky Exchange’s expertise and its own in-house platforms which includes Drinks&Co and Bodeboca.
Sukhinder and Rajbir Singh will continue to manage the business as joint Managing Directors, with the current team and structure also remaining the same.
Alexandre Ricard, Chairman and CEO of Pernod Ricard said that ecommerce was a key channel in its 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,” he said.
Sukhinder and Rajbir Singh said they were delighted to be joining Pernod Ricard and the teams would work together 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,” they 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”.