French drinks company Pernod Ricard has announced that it has signed a deal to buy Whisky Exchange, which specialises in on-line sale of spirits, as part of its e-commerce expansion strategy.
Pernod Ricard did not disclose the financial details of the deal. Whisky Exchange was founded in 1999 in Britain by Sukhinder and Rajbir Singh.
Pernod Ricard said that the acquisition 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 premiumisation'.
'Take The Business To The Next Level'
“After more than 20 years building The Whisky Exchange, we are delighted to be joining the Pernod Ricard family and working with them to take the business to the next level," commented Sukhinder and Rajbir Singh, founders of The Whisky Exchange.
"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."
Pernod Ricard, which posted a rebound in full-year sales earlier this month, said that it plans to leverage synergies between The Whisky Exchange’s expertise and its in-house platforms such as Drinks&Co and Bodeboca.
“E-commerce is a key channel in our long term strategy," commented Alexandre Ricard, Chairman and CEO of Pernod Ricard. "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."