Following their recent purchase of a majority share in Louisville’s Rabbit Hole Distilling, Pernod Ricard has continued investing in premium U.S. craft spirits with the acquisition of Firestone & Robertson Distilling Co.
This distillery is headquartered in Fort Worth, Texas. Their brand range includes whiskey and bourbon, such as fast-growing TX Blended Whiskey, launched in 2012. The brand’s bottle tops are made from boot leather, the canvas neck wraps are a nod to pioneer covered wagons and the silver band around the base of every bottle represents a symbol of Western culture.
The deal includes Whiskey Ranch, a state-of-the-art distillery minutes from downtown Fort Worth, which hosts tours and tastings.
With this deal, Pernod Ricard once again expands its portfolio to include brands with unique and comprehensive value propositions.
“The TX Blended Whiskey distinguishes itself as a brand poised for tremendous growth,” says Paul Duffy, chairman and CEO of Pernod Ricard North America. “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.”
Adds Leonard Firestone and Troy Robertson, founders of Firestone & Robertson Distilling Co., “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.”
This transaction is expected to close shortly.
White & Case LLP and Deloitte Finance served as legal counsel and transaction services support to Pernod Ricard, respectively, and Nomura Securities International and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as exclusive financial advisor and counsel, respectively, to Firestone & Robertson with respect to the transaction.