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Pernod Ricard USA acquires majority stake in Skrewball whiskey
Pernod Ricard USA has acquired a majority stake in peanut butter flavoured American whiskey brand Skrewball.
Skrewball, which was founded in 2018 by Steven and Brittany Yeng, was the first peanut butter flavoured whiskey and, last year, sold half-a-million nine-litre cases.
The deal, which was made for an undisclosed sum, sees the whiskey join the American arm of Pernod Ricard’s portfolio of spirits and wine brands and, according to the company, is the “perfect opportunity to continue building on its longstanding consumer centric and premiumisation strategy”.
Speaking to db, a spokesperson from Pernod Ricard disclosed that “to begin with, Skrewball will focus on their existing markets where they see great potential for growth” and pointed out that it is “available in the US, Canada and Puerto Rico” and so that is where the brand will remain for now.
The acquisition news also comes off the back of Pernod Ricard’s launch of Jameson Orange into the flavoured whiskey category last year.
According to the drinks giant, the appeal of flavoured whiskey is down to the category being broad and so ideal for reaching a wide range of consumers, beyond traditional whiskey lovers.
In the US, flavoured whiskey remains one of the fastest-growing spirits categories, representing a quarter of the overall whiskey sales in the world-leading market.
Ann Mukherjee, chairman and CEO of Pernod Ricard North America said: “Skrewball has proven its uniqueness and success with a large audience, so we are delighted to have this brand as part of our portfolio.”
Mukherjee explained: “With a product that brings an iconic American flavour to the spirits world, Steven and Brittany have found a true point of difference in the category. We are looking forward to unlocking the magic of this brand and a successful journey ahead.”
Steven and Brittany Yeng added: “It’s overwhelming to see how far we’ve come with a ‘screwball’ idea and a dream. We are very excited to see what the future holds for this brand under Pernod Ricard. The engine behind the company – its strategy, global reach and brand building expertise – will greatly support in taking the brand to new heights and we are excited to see it soar.”
Pernod Ricard has stayed silent on the details of the sale and declined the opportunity to discuss the terms of the acquisition, including its percentage share as well as how much it paid for the stake in the whiskey brand.