Pernod Ricard to buy Texan craft whiskey distillery Firestone & Robertson
French drinks giant Pernod Ricard, through its subsidiary Pernod Ricard USA, has agreed to acquire Texan craft whiskey distillery Firestone & Robertson Distilling, the owner of the TX whiskey brand, as per the latest drinks acquisition news.
Financial terms of Pernod Ricard acquisition of Firestone & Robertson Distilling were not disclosed.
The portfolio of the TX whiskey brand includes a super-premium whiskey and a bourbon.
Launched in 2012, TX Blended Whiskey is a smooth-drinking whiskey that is said to have got a passionate following.
The full TX whiskey range espouses the rugged elegance of the brand with the bottle tops hand made from boot leather. The canvas neck wraps are approval to pioneer covered wagons and the silver band around the base of every whiskey bottle represents a polished symbol of Western culture.
Pernod Ricard acquisition of Firestone & Robertson Distilling will enable the French drinks giant to expand its portfolio to include brands having unique and comprehensive value propositions.
Through the acquisition, Pernod Ricard has gained ownership of Whiskey Ranch, a craft whiskey distillery near downtown Fort Worth, where consumers can get the full TX whiskey brand experience, which includes tours and tastings.
Commenting on Pernod Ricard acquisition of Firestone & Robertson Distilling, Paul Duffy – Chairman & CEO of Pernod Ricard North America, said: “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.”
Leonard Firestone and Troy Robertson – Founders of Firestone & Robertson Distilling, commenting on Pernod Ricard acquisition of Firestone & Robertson Distilling, said: “This is an exciting day for all of us at Firestone & Robertson. Building our company and producing award-winning whiskies has been a truly remarkable experience.
“We are so proud of our team, and grateful to the many people that supported our efforts over the years. It is an extraordinary opportunity to partner with Pernod Ricard, and we are confident this relationship will accelerate the growth of our brands while preserving our roots and shared core values.”
Pernod Ricard acquisition of Firestone & Robertson Distilling is expected to be wrapped up soon.
White & Case is the legal counsel, while Deloitte Finance is the transaction services support to Pernod Ricard. On the other hand, Nomura Securities International and Paul, Weiss, Rifkind, Wharton & Garrison were the exclusive financial advisor and counsel, respectively, to Firestone & Robertson for the transaction.