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Irish Distillers negotiates sale of Paddy Irish Whiskey brand with Sazerac

DBR Staff Writer Published 04 May 2016

Pernod Ricard’s affiliate Irish Distillers is negotiating the sale of Paddy Irish Whiskey brand with US-based spirits company Sazerac.

If completed, the deal would result in Irish Distillers continuing the production of Paddy Irish Whiskey at its Midleton Distillery.

The transaction will not affect the roles at Irish Distillers and all employees would continue to function in their respective roles under the current terms and conditions.

Sazerac president and CEO Mark Brown said: "In the global market, Irish whiskey experienced the fastest volume growth in the last five years, outpacing all other spirits categories.

"Consumers worldwide are seeing it as an alternative to other whiskies. If this deal goes through, we are confident that we will be able to take Paddy to the next level, building on its strong history and roots."

Irish Distillers chairman and CEO Anna Malmhake said: "At the heart of everything that Irish Distillers does is a desire to see Irish whiskey grow. This deal with Sazerac, if completed, would allow Irish whiskey's reputation and footprint to grow further internationally.

"The proposed deal would ensure that Paddy would continue to be produced with the same love and care by our team in Midleton, Cork."

The proposed sale is in line with Pernod Ricard strategy to trim its portfolio for improved growth and raise funds for investments in other important Irish Distillers' whiskey brands such as Jameson and Powers for continued growth process.

Once the negotiations are completed, Irish Distillers and Sazerac are hoping to formalize the transaction in coming weeks.
Paddy Irish Whiskey sells 200,000 nine-litre cases in 28 countries annually.