Pernod Ricard has announced the acquisition of Firestone & Robertson Distilling Co., the Texas-based owner of the TX brand of whiskeys.
The acquisition is a part of the drinks giant's three-year 'Transform and Accelerate' strategy, which aims to add brands with unique and comprehensive value propositions to its portfolio.
In June of this year, it acquired the Kentucky-based Rabbit Hole Whiskey, a high-end whiskey and bourbon brand.
A 'Promising Venture'
Alexandre Ricard, the chairman and CEO of Pernod Ricard said, "The addition of TX, which is an exceptional super-premium whiskey blended by skilled Texan craftsmen, represents a very promising venture which strengthens our portfolio and footprint in the United States."
Leonard Firestone and Troy Robertson, founders of Firestone & Robertson Distilling Co., said, "It is an extraordinary opportunity to partner with Pernod Ricard, and we are confident this relationship will accelerate the growth of our brands while preserving our roots and shared core values."
The Range
The TX brand comprises super-premium whiskeys and bourbon.
All TX whiskey bottle tops are hand made of boot leather, while the bottles have canvas neck wraps and a silver band around the base.
'Tremendous Growth' Prospects
Chairman and CEO of Pernod Ricard North America, Paul Duffy, said, "The TX Blended Whiskey distinguishes itself as a brand poised for tremendous growth. The team at Firestone & Robertson Distilling Co. have done an excellent job developing the brand, and we are keen to build on this success."
The transaction, which is expected to close soon, was carried out through Pernod Ricard USA and will include the state-of-the-art distillery, Whiskey Ranch.
Located in Fort Worth in Texas, Whiskey Ranch offers tours and tastings of the entire range of TX whiskeys.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
