Pernod Ricard to Acquire a Majority Stake in Skrewball, a Super-premium and Fast-growing Flavored Whiskey
21 Mars 2023 - 8:00AM
Business Wire
Regulatory News:
Press Release – Paris, 21 March 2023
Pernod Ricard USA (Paris:RI) announced today the signing of an
agreement for the acquisition of a majority stake in Skrewball, the world’s first super-premium peanut
butter flavored American whiskey.
Founded in 2018, by Steven and Brittany Yeng, Skrewball was the
first peanut butter flavored whiskey that offers a smooth, nutty
taste. The winning combination has since been established as a
consumer favorite in the flavored whiskey category, with the brand
surpassing the symbolic milestone of half-a-million nine-liter
cases sold in 2022.
The partnership adds a complementary brand to Pernod Ricard’s
comprehensive portfolio of iconic spirits and wine brands and a
perfect opportunity to continue building on its longstanding
consumer centric and premiumization strategy. It comes on the back
of the successful launch of Jameson Orange into the flavored
whiskey category last year.
Flavored whiskeys appeal to a wide range of consumers, going
beyond traditional whiskey lovers. It remains one of the fastest
growing spirits categories in the US, representing a quarter of the
overall whiskey sales in the world-leading market. While Skrewball
tastes great when consumed straight or on the rocks, it also shines
in premium craft cocktails and has quickly become a favorite with
bartenders and mixologists across the US.
“Skrewball has proven its uniqueness and success with a large
audience, so we are delighted to have this brand as part of our
portfolio” says Ann Mukherjee, Chairman and CEO of Pernod Ricard
North America. “With a product that brings an iconic American
flavor to the spirits world, Steven and Brittany have found a true
point of difference in the category. We are looking forward to
unlocking the magic of this brand and a successful journey
ahead.”
“It’s overwhelming to see how far we’ve come with a ‘screwball’
idea and a dream,” declare Steven and Brittany Yeng. “We are very
excited to see what the future holds for this brand under Pernod
Ricard. The engine behind the company – its strategy, global reach
and brand building expertise – will greatly support in taking the
brand to new heights and we are excited to see it soar.”
Debevoise & Plimpton LLP acted as legal advisor to Pernod
Ricard. Perella Weinberg Partners acted as financial advisor to
Skrewball and the founders and Latham & Watkins LLP acted as
their legal advisor.
About Pernod Ricard
Pernod Ricard is the No.2 worldwide producer of wines and
spirits with consolidated sales amounting to €10,701 million in
fiscal year FY22. The Group, which owns 17 of the Top 100 Spirits
Brands, holds one of the most prestigious and comprehensive
portfolios 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 or
Mumm and Perrier-Jouët champagnes. The Group’s mission is to unlock
the magic of human connections by bringing “Good Times from a Good
Place”, in line with its Sustainability and Responsibility roadmap.
Pernod Ricard’s decentralized organization empowers its 19,480
employees to be on-the-ground ambassadors of its purposeful and
inclusive culture of conviviality, bringing people together in
meaningful, sustainable and responsible ways to create value over
the long term. Executing its strategic plan, Transform &
Accelerate, Pernod Ricard now relies on its “Conviviality
Platform”, a new growth model based on data and artificial
intelligence to meet the ever-changing demand of consumers.
Pernod Ricard is listed on Euronext (Ticker: RI; ISIN
Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50
indices.
About Skrewball Whiskey
Skrewball Whiskey was founded by Steven Yeng, a Cambodian
refugee, and his wife Brittany, a former chemist who became a
lawyer. Steven discovered his love of peanut butter shortly after
arriving in the United States. Later, he began to integrate the
quintessential, American nut butter into a top-selling cocktail at
a bustling downtown Ocean Beach (San Diego) bar he ran. Seeing the
popularity, Brittany would take Steven’s bestselling shot and help
turn it into a shelf-stable whiskey with her chemistry background.
Skrewball Peanut Butter Whiskey has won several awards, including
the Best Flavored Whiskey award at the New York World Wine and
Spirits Competition. The brand rapidly expanded in the US, Canada,
and the Caribbean.
For more information, visit www.skrewballwhiskey.com.
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Pernod Ricard
Investor relations Florence
Tresarrieu / Global SVP Investors Relations and Treasury +33 (0) 1
70 93 17 03 Edward Mayle / Investor Relations Director +33 (0) 1 70
93 17 13 Charly Montet / Investor Relations Manager +33 (0) 1 70 93
17 13
Media Emmanuel Vouin / Head of
External Engagement +33 (0) 1 70 93 16 34 Anu Rao / Pernod Ricard
USA SVP Communications & S/R +1 917 880 94 60
Skrewball Whiskey
Media Natalia Barclay, Crowe PR
+1-619-794-0114 ext. 715
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