Pernod Ricard to acquire online retailer The Whisky Exchange

Pernod Ricard Tuesday said it has signed an agreement to acquire UK-based online and physical spirits retailer The Whisky Exchange.

Founded by Sukhinder and Rajbir Singh in 1999, The Whisky Exchange is one of the biggest online drinks retailers, with a catalogue of circa 10,000 products.

The retailer has since become an omnichannel player, expanding its activities to on-trade supply and physical stores in the UK, with three shops in London. It is also active in private sales and online auctions of rare spirits, two fast-expanding activities on which The Whisky Exchange plans to develop synergies with Pernod Ricard.

“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,” Sukhinder and Rajbir Singh said.

“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.”

Pernod Ricard said the acquisition is in line with its consumer-centric strategy of meeting new consumer needs and expectations, in a context of solid e-commerce growth and strong demand for premiumisation.

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

The Whisky Exchange will continue to operate with its current team and structure, with Sukhinder and Rajbir Singh managing the business as joint managing directors.

The Singh family used to run an off-licence in west London till 1999. The popular shop, called The Nest, was a winner of the Off Licence of the Year award for 1994 at Asian Trader Awards.