If successful, the transaction would involve Irish Distillers, an affiliate of Pernod Ricard, continuing to produce Paddy Irish Whiskey at its Midleton Distillery. There would be no impact on jobs at Irish Distillers, with all employees remaining in their current roles under current terms and conditions.
|Irish Distillers in negotiations with Sazerac for the sale of Paddy Irish Whiskey|
Paddy Irish Whiskey is the 4th largest Irish whiskey brand in the world, selling 200,000 cases in 28 countries worldwide annually. As the Irish whiskey industry is projecting 100% growth by 2020, an acquisition of the Paddy brand by Sazerac would ensure that the brand is positioned for sizeable investment to support its future growth.
Commenting on the news, Anna Malmhake, Chairman and CEO of Irish Distillers, said: “At the heart of everything that Irish Distillers does is a desire to see Irish whiskey grow. This deal with Sazerac, if completed, would allow Irish whiskey’s reputation and footprint to grow further internationally. The proposed deal would ensure that Paddy would continue to be produced with the same love and care by our team in Midleton, Cork.”
The proposed divestment of Paddy Irish Whiskey is in line with the Pernod Ricard strategy to simplify its portfolio for growth and could facilitate, among other things, targeted investment in other key Irish Distillers’ whiskey brands including Jameson and Powers to support continued growth.
Posted by Steve Rush