French drinks giant Pernod Ricard has agreed to acquire online spirits retailer, The Whisky Exchange, as part of its efforts to expand its e-commerce activities.
After being founded by Sukhinder and Rajbir Singh in 1999, UK-based The Whisky Exchange has become a leading online drinks retailer with a catalogue of around 10,000 products. As well as whisky, it sells other spirits, wine, champagne, and craft beer.
The business has also expanded its activities to on-trade supply and physical stores, with several shops in London.
Pernod Ricard stated that the acquisition was part of its strategy to meet new consumer needs and expectations, in a context of solid e-commerce growth and strong demand for premiumisation.
The French firm plans to leverage synergies between The Whisky Exchange and its in-house platforms such as Drinks&Co and Bodeboca.
“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,” said Sukhinder and Rajbir Singh.
“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.”
Alexandre Ricard, Chairman and CEO of Pernod Ricard, added: “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.”
The Whisky Exchange will continue to operate with its current team and structure, with Sukhinder and Rajbir Singh running the business as joint Managing Directors.
