Pernod Ricard to buy majority stake in American whiskey brand Skrewball

Pernod Ricard USA has agreed to acquire a majority stake in Skrewball, a peanut butter-flavored American whiskey, for an undisclosed price.

Skrewball, which is said to have a smooth and nutty flavor, was established in 2018 by Steven Yeng and Brittany Yeng, who said: “It’s overwhelming to see how far we’ve come with a ‘screwball’ idea and a dream.

“We are very excited to see what the future holds for this brand under Pernod Ricard. The engine behind the company – its strategy, global reach and brand building expertise – will greatly support in taking the brand to new heights and we are excited to see it soar.”

According to Pernod Ricard, the combination used in Skrewball has been recognized as a popular preference within the category of flavored whiskey as the brand surpassed the symbolic mark of half-a million nine-liter cases sold last year.

Pernod Ricard said that the partnership will add a new brand to its portfolio of wines and spirits, and provides an ideal opportunity to keep expanding its premiumization and consumer-centric strategy. Furthermore, the partnership comes off the back of the success of the debut of Jameson Orange into the flavored whiskey category in the year 2022, said Pernod Ricard.

The drinks giant stated that flavored whiskeys are appealing to a broad range of people, and go beyond the typical whiskey enthusiasts. They are of the fastest growing categories of spirits in the US which accounts for nearly one-quarter of total spirits sales of the world’s largest market.

Although Skrewball is delicious when drunk in a glass or on the rocks, it also shines in cocktails made with premium ingredients and is quickly becoming popular with bartenders as well as mixologists from across the US, said Pernod Ricard.

Ann Mukherjee — Pernod Ricard North America Chairman and CEO said: “Skrewball has proven its uniqueness and success with a large audience, so we are delighted to have this brand as part of our portfolio.

“With a product that brings an iconic American flavor to the spirits world, Steven and Brittany have found a true point of difference in the category. We are looking forward to unlocking the magic of this brand and a successful journey ahead.”

Debevoise & Plimpton LLP was legal advisor for Pernod Ricard for the deal, while Perella Weinberg Partners acted as financial advisor to Skrewball and its founders and Latham & Watkins LLP acted as the American whiskey’s legal advisor.