Pernod Ricard acquired Castle Brands for $223m.

Pernod Ricard, which produces and markets alcoholic beverages, acquired Castle Brands, which wholesales alcohol beverages, for $223m. Under the terms of the merger agreement, which has been unanimously approved by the Castle Brands Board of Directors, Castle Brands shareholders received $1.27 in cash for each outstanding share of Castle Brands common stock they owned. “Through this acquisition, we welcome this great brand portfolio, in particular, Jefferson’s bourbon whiskey, to the Pernod Ricard family. Bourbon is a key category in the US which is our single most important market. This deal aligns well with our consumer-centric strategy to offer our consumers the broadest line-up of high-quality premium brands. As with our American whiskeys Smooth Ambler, Rabbit Hole, and TX, we would provide Jefferson’s a strong route to market and secure its long-term development, while remaining true to its authentic and innovative character.” Alexandre Ricard, Chairman and Chief Executive Officer of Pernod Ricard.