And with this, the craft whiskey distilleries being acquired by big brands dam breaks.
What started out earlier this year as a buy out of Utah’s High West by Constellation Brands has now become something of a snowball effect as other spirits giants move in to get their hands on well established, medium sized whiskey makers. We saw this just last week in the acquisition of Seattle’s Westland Distillery by Rémy Cointreau, and now word just out on the wire is “a majority stake” investment by Pernod Ricard into West Virginia’s Smooth Ambler Spirits.
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Under the terms of the transaction, noted Pernod Ricard, John Little will assume the role of CEO and continue to operate the company “with the same culture and commitment to quality.” John Foster will also remain as Director of Sales and Marketing.
“We are very impressed by Smooth Ambler’s successful track record, and we are excited to partner with that team as they continue to produce high quality American Whiskeys,” said Jeff Agdern, President of NBVI Investments, an affiliate of Pernod Ricard, in a prepared statement.
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“Smooth Ambler is committed to making great spirits, using the best American ingredients,” added Little. “The investment from NBVI will enable us to introduce our premium craft spirits to many more consumers.”
With the investment, Smooth Ambler plans to increase production capacity and further expand its local team in West Virginia.
