Pernod Ricard has divested its Knappogue Castle and Clontarf Irish whiskey brands to local Irish business Cobblestone Brands.
Financial terms of the transaction were not disclosed.
In a statement issued on 24 July, Cobblestone said the deal is a “major milestone” as it “deepens its commitment to Irish whiskey and invests in the long-term growth” of two brands.
Nodjame Fouad, CEO of Pernod’s Ireland business, Irish Distillers, said the sale “aligns with our business strategy to focus on our core Irish whiskey portfolio and accelerate growth in key areas”.
The distiller’s portfolio in Ireland includes Redbreast Single Pot Still Irish Whiskey, Midleton Very Rare, and Powers Irish Whiskey.
The sold Irish whiskey brands will join Four Corners American Gin and Star & Key Rum in Cobblestone’s portfolio.
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By GlobalDataBrian Fagan, CEO of Cobblestone Brands, added: “Despite near-term industry challenges, this is a time to invest in quality, authenticity, and long-term brand building.
“Knappogue Castle and Clontarf have a strong foundation, and we see enormous opportunity to re-energise and grow them in both established and emerging markets.”
Looking ahead, Barry Gallagher, COO of Cobblestone, said the group plans to invest “significantly in marketing, innovation, and route-to-market expansion for both brands”.
In March, Irish Distillers announced a temporary production pause at its Midleton Irish whiskey distillery in County Cork.
At the time, the Jameson distiller said the Midleton site was “adjusting its production schedule for a routine, periodic review”.
The Irish whiskey brands sale follows similar divestitures across the globe as the Olmeca Tequila maker executes “an internal project” to make “a more agile and simplified organisation”.
Earlier this week in India, Pernod Ricard agreed to sell its Imperial Blue whisky business to Tilaknagar Industries for an enterprise value of €412.6m ($485.4m).
In a statement issued on 23 July, Pernod Ricard said the deal “strengthens” its portfolio in India, “enabling the business to fully tap into premiumisation trends and support sustained, profitable growth”.
In April, the Martell Cognac maker also completed the sale of several wine assets to Australian Wine Holdco Limited, leading to the formation of the new wine company Vinarchy.
The assets included wines from Australia, New Zealand, and Spain, such as Jacob’s Creek, Brancott Estate, and Campo Viejo.
