Pernod Ricard has signed an agreement to acquire The Whisky Exchange.
Since its creation by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange has become one of the UK's biggest online drinks retailers, with a catalogue of around 10,000 products.
It has since expanded into on-trade supply and physical stores in the UK, with several shops in London. The company is also active in private sales and online auctions of rare spirits, which Pernod Ricard has plans to develop "innovative synergies" around.
The acquisition is in line with Pernod Ricard’s consumer-centric strategy of e-commerce growth and demand for "premiumisation" of its brands.
The spirits group plans to "leverage synergies" between The Whisky Exchange’s expertise and its in-house platforms such as Drinks&Co and Bodeboca.
Founders Sukhinder and Rajbir Singh stated: “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 chief executive of Pernod Ricard, stated: “E-commerce is a key channel in our long term strategy, so 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.
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