LONDON: Indian-Origin Brothers Agree To Sell UK Liquor Business To Pernod Ricard

LONDON: London-based Indian-origin
entrepreneur brothers Sukhinder and Rajbir Singh have agreed to the sale of
their retail spirits business to French beverages major Pernod Ricard.

The
Whisky Exchange, founded by them in 1999, is one of the UK’s largest online
spirits retailers specialising in whiskies and fine spirits, with a catalogue
of over 10,000 products.

The
family business also has three shops located in the heart of London at Covent
Garden, Great Portland Street and London Bridge.

“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,” the brothers said in a statement on Tuesday.

“The
Whisky Exchange and our customers have always felt like a family, and we are
looking forward to maintaining this ethos with a partner that shares our
values. 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,”
they said.

The
Whisky Exchange will continue to operate with its current team and structure,
with Sukhinder, 53, and Rajbir, 49, managing the business as joint Managing
Directors. The business grew out of their parents’ wine and spirit store in
west London and now counts 4,000 whiskies, including 3,000 single malt Scotch
whiskies; 400 Champagnes, 800 Cognacs and Armagnacs; 700 rums; 600 gins; 300
aperitifs; 400 Tequilas and mezcal among its catalogue.

Pernod
Ricard said closing of the transaction to acquire The Whisky Exchange is
subject to “customary conditions”.

“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,” said Alexandre Ricard,
Chairman and CEO of Pernod Ricard.

The
Whisky Exchange is dubbed an omnichannel player, expanding its activities to
on-trade supply and physical stores in the UK. It is also active in private
sales and online auctions of rare spirits, two expanding activities which are
set to be further developed with Pernod Ricard.

The
French company said the acquisition is in line with Pernod Ricard’s
“consumer centric strategy” of meeting new consumer needs and
expectations, in a context of solid e-commerce growth and strong demand for
premiumisation.