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Pernod Ricard acquiring Texas-based distillery

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Pernod Ricard acquiring Texas-based distillery

Paris-based Pernod Ricard SA, through its subsidiary Pernod Ricard USA LLC, is acquiring Fort Worth, Texas-based distillery Firestone & Robertson Distilling Co.

Terms of the deal were not disclosed.

The deal includes Firestone & Robertson's two TX-branded premium spirits and a distillery called Whiskey Ranch near Fort Worth.

The spirits included in the deal are a "super-premium" whiskey and bourbon, which are available for sale in combined 16 states, Hillary Wagner, Firestone & Robertson vice president of marketing, said in an interview. She said the deal with Pernod Ricard is a way to put Firestone & Robertson's brands onto a global stage.

Pernod Ricard has recently made a number of investments in other spirits makers. In July, Pernod Ricard completed the acquisition of a majority stake in Kentucky-based Rabbit Hole Spirits, a maker of whiskey and bourbon, and closed a deal to take a 34% stake in Seagram MM Holdings Pte. Ltd. On June 20, Pernod Ricard acquired Italian beverage alcohol distillery Torino Distillati SPA which sells the gin brand Malfy.

"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," Alexandre Ricard, Chairman and CEO of Pernod Ricard, said in an Aug. 5 press release.

Pernod Ricard could not be reached immediately for comment the same day.

The deal is expected to close soon.

White & Case LLP served as legal counsel for Pernod Ricard on the deal, and Deloitte Finance provided transaction services support to Pernod Ricard. Nomura Securities International acted as exclusive financial adviser to Firestone & Robertson, and Paul Weiss Rifkind Wharton & Garrison LLP served as counsel.