Pernod sells Knappogue Castle to Cobblestone Brands
Cobblestone Brands is acquiring Irish whiskeys Knappogue Castle and Clontarf from Pernod Ricard.
Dublin-based Cobblestone Brands is deepening its commitment to Irish whiskey with the purchase of Knappogue Castle and Clontarf from Irish Distillers, the Irish whiskey arm of Pernod Ricard.
Financial details of the acquisition have not been disclosed.
“Despite near-term industry challenges, this is a time to invest in quality, authenticity, and long-term brand building,” Cobblestone Brands CEO Brian Fagan said.
“Knappogue Castle and Clontarf have a strong foundation, and we see enormous opportunity to re-energise and grow them in both established and emerging markets.
“We’re proud to be the new custodians of these brands and are grateful for Irish Distillers’ confidence in our ability to carry these brands forward.”
Cobblestone Brands was founded in 2021 and adds the pair of Irish whiskeys to a spirits portfolio that previously included Four Corners American Gin and Star & Key Rum.
In April, Irish Distillers announced a production pause that would last through the summer. Whiskey makers across the globe are simultaneously recalibrating their efforts to better align with shifts in supply and demand.
Irish Distillers was formed in 1966 when three of the country’s leading distillers joined forces. At the time, the category was struggling and resources needed to be pooled together.
In the decades since, Irish whiskey has rebounded yet the majority of brands – such as Redbreast, Jameson, Green Spot, and Powers – remain under one single house.
Knappogue Castle was previously owned by Castle Brands, which Pernod Ricard acquired in 2019.
“This divestment aligns with our business strategy to focus on our core Irish Whiskey portfolio and accelerate growth in key areas,” Irish Distillers CEO Nodjame Fouad said. “We are confident that Cobblestone Brands will further develop and expand their market presence, and we extend our best wishes for their future success.”
Cobblestone Brands COO Barry Gallagher added: “We plan to invest significantly in marketing, innovation, and route-to-market expansion for both brands, with further announcements to follow in the coming months.
“This acquisition represents the next step in our broader growth strategy across our spirits brands. Over the next 12 months, we plan to introduce another three new-to-world brands as we continue to build a diverse and globally relevant premium spirits portfolio.”
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