NBV Investments Inc. (NBVI), an affiliate of Pernod Ricard USA, has signed an agreement to take a majority stake in Smooth Ambler Spirits Co., the West Virginia distiller and producer of Smooth Ambler Contradiction Bourbon, Old Scout Single Barrel Bourbon and other spirits.
The transaction is currently subject to regulatory approval and is expected to close in early 2017.
Smooth Ambler Spirits Co., founded in 2009, is located in the Greenbrier Valley of West Virginia. It uses regional resources and ingredients to produce gins, vodkas, rums and whiskeys, the company says.
“The investment from NBVI will enable us to introduce our premium craft spirits to many more consumers,” says John Little, Smooth Ambler’s Co-Founder and Head Distiller, in a press release.
Smooth Ambler plans to increase production capacity and further expand its local team in West Virginia, Little says.
“We are very impressed by Smooth Ambler’s successful track record, and we are excited to partner with that team as they continue to produce high quality American Whiskeys,” says Jeff Agdern, President of NBVI, in the release.
Under the terms of the transaction, Little will assume the role of CEO and continue to operate the company with same culture and commitment to quality, the company said. John Foster will also remain as Director of Sales and Marketing.
Alexandre Ricard, Chairman and CEO of Pernod Ricard, says: “This investment illustrates perfectly our strategy of partnering with rising entrepreneurs sharing the same passion for authentic, high-quality brands. It represents a strong opportunity to enter the fast-growing, high-end bourbon market extending even more our fantastic portfolio of genuine brands in our number 1 market.”