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Pernod Ricard arm closes Smooth Ambler deal
Pernod Ricard’s US investment arm has completed its acquisition of a majority stake in American spirits producer Smooth Ambler.
A Pernod Ricard arm has bought a majority stake in American whiskey producer Smooth Ambler
The transaction by NBV Investments, a subsidiary of Pernod Ricard USA affiliate Austin Nichols & Co, will enable Virginia-based Smooth Ambler to boost production capacity and expand its local team.
Smooth Ambler’s product portfolio includes Contradiction Bourbon and Old Scout Single Barrel Bourbon. alongside gins and vodkas.
Under the deal, first announced in December 2016, co-founder and head distiller John Little will continue to operate the business as CEO. Distiller and director of sales John Foster will lead the brand’s sales and marketing.
“We are very impressed by Smooth Ambler’s successful track record, and we are excited to partner with that team as they continue to produce high quality American whiskeys.” said Jeff Agdern, NBV Investments president, when the deal first went public.
Pernod Ricard reported single digit sales growth in its 2015/16 financial year, largely driven by the US where sales grew 4%.