Pernod Ricard announced Thursday, August 29 the acquisition of the US group Castle Brands, owner of among others bourbon Jefferson's for 223 million dollars (201 million euros). The transaction was announced while the French group must present its annual results for the 2019 financial year.
The agreement was unanimously approved by the Castle Brands Board of Directors. Subject to obtaining the majority of the outstanding shares of Castle Brands, the closing of the transaction is expected in the fourth quarter of 2019.
The United States, Pernod Ricard's largest market
The final buyout agreement provides for Castle Brands' shareholders to receive $ 1.27 in cash per common share, which represents a premium of 92% over the closing price on Tuesday, August 27, says the French wine group. spirits in a statement.
"Bourbon is a key category in the United States, which is our most important market," said Alexandre Ricard, CEO of the French group. "As with our other American whiskeys, Smooth Ambler, Rabbit Hole and TX, we will be able to offer Jefferson's a strong distribution network and secure its long-term development, while remaining true to its authentic and innovative character," he adds. -he.
With Reuters (Marc Angrand)
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