Pernod Ricard acquires Texas whiskey makerBy Amy Hopkins
French firm Pernod Ricard has continued its acquisition streak with the purchase of Texan whiskey producer Firestone & Robertson Distilling Co.
The distillery, founded in 2010 by Leonard Firestone and Troy Robertson, produces the TX brand of super-premium whiskey and Bourbon.
The acquisition forms part of Pernod Ricard’s ‘transform and accelerate’ three-year strategic plan to improve operational leverage. It follows the French group’s buy of a majority stake in South African distillery Inverroche at the end of last month and its purchase of Malfy Gin in June.
Alexandre Ricard, CEO of Pernod Ricard, said: “The addition of TX, which is an exceptional super-premium whiskey blended by skilled Texan craftsmen, represents a very promising venture which strengthens our portfolio and footprint in the United States.”
Firestone & Robertson Distilling Co produces TX Whiskey at its Whiskey Ranch site near Fort Worth. Distilled and aged in North Texas for approximately five years, TX Straight Bourbon is made with Texas-grown corn and wheat, and a proprietary yeast derived from a Texas pecan nut – said to be the first of its kind.
Paul Duffy, chairman and CEO of Pernod Ricard North America, added: “The TX Blended Whiskey distinguishes itself as a brand poised for tremendous growth. The team at Firestone & Robertson Distilling Co have done an excellent job developing the brand, and we are keen to build on this success.
“We will continue to reinforce the community of loyal TX brand ambassadors, both as we expand distribution and as we welcome consumers to the Whiskey Ranch.”
The transaction is expected to close shortly.