French wine and spirits retailer Pernod Ricard has signed an agreement to purchase The Whisky Exchange, the famous UK-based supplier of whiskies and spirits.
The Whisky Exchange, the whisky institution and more…
Founded in 1999 in the UK by brothers Sukhinder and Rajbir Singh, The Whisky Exchange has become a leading global retailer of fine whiskies and spirits through its online shop and three physical shops located in the heart of London in Covent Garden, Great Portland Street and London Bridge. As with every great story, everything happened by chance. Sukhinder Singh, growing up, helped his parents at their liquor business in London, and he slowly started to like this job. The rest, as they say, it’s history!
The Whisky Exchange has a catalogue of around 10,000 products including 4,000 whiskies, 400 champagnes, 800 cognacs and Armagnacs, 700 rums, 600 gins, 400 tequilas and mezcals and many other brands of spirits, wines and beverages.
The Agreement with Pernod Ricard
The acquisition is part of Pernod Ricard’s strategy to meet consumers’ needs and expectations amid the growth in e-commerce and increased demand for premiumisation. in a scenario where e-commerce is booming, and there is strong demand for Premium and Super Premium products.
After breaking the news, Sukhinder and Rajbir Singh stated:
“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 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.”
Pernod Ricard will benefit from the expertise of The Whisky Exchange and its internal platforms such as Drinks&Co and Bodeboca. After this regard, Pernod Ricard chairman and CEO Alexandre Ricard said:
“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.”
If you are worried about possible changes in what has become a whisky institution, have no fear. The Whisky Exchange will operate with its existing team and structure, and the Singh brothers will continue running the business as joint managing directors.
The deal includes the on-trade wholesale arm Speciality Drinks, The Whisky Exchange shops, website and events, the online marketplace Whisky, Whisky Auction and London Cocktail Week event while leaving out the production arm Elixir Distillers, the distillery being built on Islay, and Speciality Brands, the spirits agency company.
We look forward to seeing what developments will follow.