Pernod Ricard to Sell Tormore Scotch Whisky Brand and Distillery to Elixir Distillers
20 Giugno 2022 - 5:38PM
Business Wire
Regulatory News:
Press Release – Paris, 20 June 2022
Pernod Ricard (Paris:RI) signed today an agreement to sell the
Tormore Scotch Whisky brand and distillery to Elixir Distillers, a
company co-founded by entrepreneurs Sukhinder and Rajbir Singh.
The Tormore distillery is emblematic of the Speyside region,
home of the Scottish malt whisky industry, with a capacity of
nearly 5 million liters of alcohol per annum. A listed building,
constructed in 1960, it is equally famous for the quality of its
Scotch whiskies as for its architectural design. The associated
brand is renowned for its single malts, including its 14 and 16
year-old editions.
The agreement marks a new milestone in a strong relationship
between Pernod Ricard and the Singh brothers, who co-founded whisky
specialist Elixir Distillers in 2017 and created the leading online
spirits retailer “The Whisky Exchange”, which was acquired by
Pernod Ricard in 2021.
Alexandre Ricard, Chairman and CEO of Pernod Ricard, stated:
“Active portfolio management is an integral part of our long-term
strategy. The sale of the Tormore brand and distillery follows the
recent announcement of our investment behind the Aberlour and
Miltonduff facilities, which will increase our Scotch production
capacities by 14 million liters of alcohol per annum. We are
delighted to be handing Tormore over to Sukhinder and Rajbir, two
friends and truly creative entrepreneurs and look forward to
finding new ways to collaborate in the future.”
Sukhinder Singh explained: “Tormore is one of the most visually
stunning distilleries in Speyside. It produces a beautiful spirit
and fits in perfectly with the Elixir Distillers flavour-first
philosophy to bottle only the very highest quality whiskies. We are
hoping to build on the work that’s been done by Pernod Ricard to
bring to life the magic of Tormore and show consumers around the
world just what a hidden gem it is. We are humbled to be the new
custodians of Tormore; we couldn’t have asked for a better
distillery to welcome to the Elixir family alongside our new Islay
distillery, Portintruan.”
About Pernod Ricard Pernod Ricard is the No.2 worldwide
producer of wines and spirits with consolidated sales amounting to
€8,824 million in fiscal year FY21. The Group, which owns 16 of the
Top 100 Spirits Brands, holds one of the most prestigious and
comprehensive portfolio in the industry with over 240 premium
brands distributed across more than 160 markets. Pernod Ricard’s
portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s,
Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies,
Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater
gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well
Jacob’s Creek, Brancott Estate, Campo Viejo, and Kenwood wines.
Pernod Ricard’s strategy focuses on investing in long-term and
sustainable growth for all its stakeholders, remaining true to its
founding values: entrepreneurial spirit, mutual trust, and strong
sense of ethics. The Group’s decentralised organisation empowers
its 18,500 employees to be on-the-ground ambassadors of its vision
of “Créateurs de Convivialité”. Pernod Ricard 2030 Sustainability
and Responsibility roadmap “Good Times from a Good Place” is
integrated into all its activities from grain to glass, and Pernod
Ricard is recognised as a UN Global Compact LEAD participant for
its contribution to the United Nations Sustainable Development
Goals (SDGs). Pernod Ricard is listed on Euronext (Ticker: RI; ISIN
Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50
indices.
About Elixir Distillers Founded by Sukhinder and Rajbir
Singh, Elixir Distillers is a creator, blender and bottler of fine
spirits, combining delicious, characterful liquid with beautiful
design. Their expertise is Scotch whisky and rum but they also work
with Japanese whisky, tequila and other spirits. Their core brands
include Port Askaig, Elements of Islay, Single Malts of Scotland
and Black Tot which they export to more than 30 international
markets around the world. They are building a new distillery on
Islay, Portintruan, which is due to open in 2024.
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Pernod Ricard Florence Tresarrieu / Global Senior Vice
President, Investors Relations & Treasury +33 (0) 1 70 93 17
31
Charly Montet / Investor Relations Manager +33 (0) 1 70 93 17
13
Emmanuel Vouin / Head of External Engagement +33 (0) 1 70 93 16
34
Elixir Distillers Chris Maybin
chris.maybin@elixirdistillers.com +44 (0) 74 69 88 91 94
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