Pernod Ricard has signed an agreement to acquire online spirits retailer The Whisky Exchange, as part of its e-commerce growth strategy.
Founded in 1999 by Sukhinder and Rajbir Singh, UK-based The Whisky Exchange delivers a range of approximately 10,000 whiskies and spirits, making it one of the largest online spirits retailers.
Best known for its website, the company also has three retail shops in London, including one in Covent Garden. The Whisky Exchange is also “active in private sales and online auctions of rare spirits,” said Pernod Ricard.
Sukhinder and Rajbir Singh will remain with the business as joint managing directors.
“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,” said Sukhinder and Rajbir Singh. “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’s CEO and chairman, Alexandre Ricard, added: “E-commerce is a key channel in our 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.”
Terms of the deal – which is subject to customary conditions – were not disclosed.