Paddy on the move? Irish Distillers discussing sale of whiskey
Pernod Ricard affiliate Irish Distillers has entered into exclusive talks with Sazerac to sell Paddy, the fourth largest Irish whiskey brand in the world.
If completed the deal would see the whiskey continued to be made at the Midleton Distillery with no impact on roles at the distillery expected.
Pernod Ricard didn't disclose how much it would sell the brand for but the move is in line with its strategy to simplify its portfolio, which also includes Jameson and Powers.
Irish Distillers chief executive Anna Malmhake said at the heart of everything the firm 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.”
Paddy Irish Whiskey sells around 200,000 nine-litre cases across 28 countries every year. Its popularity is expected to grow in line with the Irish whiskey industry, which expected to expand by 100pc by 2020.
Sazerac president Mark Brown said Irish whiskey has been outpacing all other spirits in terms of volume growth.
"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," Mr Brown said.