Pernod in talks to sell Paddy Irish Whiskey to Sazerac

Irish Distillers is in exclusive talks with Sazerac over the sale of Paddy Irish Whiskey as part of Pernod Ricard’s strategy to “simplify” its portfolio.

Irish Distillers Pernod Ricard is in talks to sell Paddy Irish Whiskey to Sazerac

If the deal goes ahead, Irish Distillers will continue to produce Paddy Irish Whiskey at its Midleton Distillery with “no impact on roles at Irish Distillers” and all employees maintaining their posts under “current terms and conditions”.

The sale of the brand could assist “targeted investment” in other Irish Distillers’ whiskey brands, including Jameson and Powers to further growth.

“At the heart of everything that Irish Distillers does is a desire to see Irish whiskey grow,” commented Anna Malmhake, chairman and CEO of Irish Distillers. “This deal with Sazerac, if completed, would allow Irish whiskey’s reputation and footprint to grow further internationally.

“The proposed deal would ensure that Paddy would continue to be produced with the same level of love and care by our team in Midleton, Cork.”

Paddy Irish Whiskey is the fourth largest Irish whiskey brand in the world, shifting more than 200,000 nine-litre cases across 28 different countries each year.

Irish Distillers and Sazerac should sign and completed the acquisition in the coming weeks, subject to pending negotiations.

“In the global market, Irish whiskey experienced the fastest volume growth in the last five years, outpacing all other spirits categories,” said Mark Brown, president and CEO of Sazerac. “Consumers worldwide are seeing it as an alternative to other whiskies.

“If this deal goes through, we are confident that we will be able to take Paddy to the next level, building on its strong history and roots.”