pernod ricard castle brands

Pernod Ricard acquires Castle Brands

09 October, 2019

Pernod Ricard has completed the acquisition of Castle Brands by a subsidiary of Pernod Ricard SA, through a cash tender offer followed by a short-form merger.

Alexandre Ricard, chairman and CEO of Pernod Ricard, said: “We’re thrilled about the closing of the Castle Brands acquisition and the opportunity it offers us in the world’s largest spirits market, the US, a priority market for the Group.”

Pernod Ricard, through one of its subsidiaries, offered to acquire all of the outstanding common stock of Castle Brands for $1.27 per share in cash. 

A total of 150,335,952 shares of common stock of Castle Brands, representing approximately 89.52% of the outstanding Castle Brands shares, were validly tendered.  

As a result of the tender offer and the merger, Castle Brands became an indirect wholly owned subsidiary of Pernod Ricard and Castle Brands’ common stock will cease trading on the NYSE American.





Digital Edition

Drinks International digital edition is available ahead of the printed magazine. Don’t miss out, make sure you subscribe today to access the digital edition and all archived editions of Drinks International as part of your subscription.

Comment

La'Mel Clarke

Service isn’t servitude: the skill of hosting

La’Mel Clarke, front of house at London’s Seed Library, looks at the forgotten art of hosting and why it deserves the same respect as bartending.

Instagram

Facebook