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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Pernod Ricard | EU:RI | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.25 | 1.80% | 127.10 | 127.05 | 127.15 | 128.00 | 125.80 | 125.80 | 128,062 | 15:08:07 |
From Jul 2019 to Jul 2024
By Maria Armental
Pernod Ricard SA, the owner of Chivas Regal whisky and Absolut vodka, has reached a $223 million deal to buy Castle Brands Inc.
"Bourbon is a key category in the U.S., which is our single most important market," Pernod Ricard Chief Executive Alexandre Ricard said in a statement, singling out Castle Brands' Jefferson's bourbon whiskey.
"As with our American whiskies Smooth Ambler, Rabbit Hole and TX, we would provide Jefferson's a strong route to market and secure its long-term development, while remaining true to its authentic and innovative character," Mr. Richard said.
Under the terms of the agreement, Pernod Ricard would buy New York-based Castle Brands through a subsidiary. Castle Brands shareholders would receive $1.27 in cash for each outstanding share. Castle Brands stock closed Thursday at 67 cents and traded at $1.18 in after-hours trading.
The deal is expected to close in the fourth quarter.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
August 28, 2019 18:43 ET (22:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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