Pernod Ricard buys majority stake in Rabbit Hole Whiskey
Drinks giant Pernod Ricard is looking to boost its presence in the bourbon category by taking a majority stake in Rabbit Hole Whiskey. Based in Louisville, Kentucky, Rabbit Hole specialises in whiskies and gin. Although founder Kaveh Zamanian will retain the majority of his shares and stay in the business’s top spot, Rabbit Hole will now become a part of Pernod Ricard USA’s New Brand Ventures division, alongside recently acquired brands Smooth Ambler and Del Maguey.
Pernod Ricard’s share price is up by 14% so far this year
Source: Yahoo Finance
Pernod Ricard says that bourbon is “currently undergoing a renaissance,” thanks to a new audience of consumers who are discovering its “quality and versatility.”
The French group’s CEO, Alexandre Ricard, said: “This partnership is the perfect implementation of our long-term investment strategy to create sustainable value. Kaveh and I embrace the same entrepreneurial spirit. Rabbit Hole is a fast-growing brand, strongly rooted in its terroir and very well positioned in the high-end bourbon and Kentucky whiskey categories. We are excited to take the brand to the next stage of its very promising development.”
Zamanian added: “Pernod Ricard and I share the same entrepreneurial values and our ethos and strategic visions are fully aligned. By leveraging Pernod Ricard’s extensive distribution network to reach new consumers, we are able to strengthen Rabbit Hole’s position as a brand and amplify its presence as a new voice in American whiskey. In partnership with Pernod Ricard, Rabbit Hole is poised to reach new heights. I am very excited about this partnership and our future together.”
Dominion holds Pernod Ricard in its Global Trends Luxury Fund.
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